NEW: A law firm asked a Maryland federal court on Friday for emergency relief after hackers stole $4 million in cryptocurrency from its escrow wallets in a sophisticated phishing attack. law.com/nationallawjournal/2…

Breaking: A Miami federal judge dismissed a putative class action accusing @mcuban and the @dallasmavs of promoting a failed crypto platform, ruling Tuesday that the plaintiffs failed to establish personal jurisdiction despite alleging nationwide marketing and Florida-based harm.

#LocalBreaking: A Miami state court jury returned a verdict against a subsidiary of MSP Recovery Inc. to pay more than $12 million to John Ruiz's former business partner. law.com/dailybusinessreview/…

Do Hyeong Kwon, a co-founder of Singapore-based Terraform Labs Pte. and who developed TerraUSD and Luna currencies, pleaded guilty Tuesday in a Manhattan federal court.

In a rough day for @coinbase, the crypto exchange was hit with nationwide class action lawsuits in California and New York federal courts on Thursday, and saw its stock price drop by over 7%, on the same day it earlier confirmed that cyber criminals had bribed and recruited a group of rogue overseas support agents to steal its customer data to facilitate social engineering attacks.

The litigator behind the Solana-based meme coin “Wiener Doge” saw the token’s $3.1 million market cap wiped away in minutes after a cyber heist that he alleged Monday in New York federal court could have been prevented by wallet host @phantom, which touted “best in class” security on its platform.

Steve Segal, a shareholder at @BuchalterLaw, said the status of the $125 million fine that U.S. District Judge Annalisa Torres imposed for Ripple’s sale of XRP to institutional investors as an unregistered securities offering is unclear, even though the same judge ruled that XRP itself was a commodity. "As a stand-alone matter, Ripple’s XRP digital asset does have a utility that supports its classification as a commodity rather than a security," said Segal, who advises clients on a broad range of business and transactional matters, including crypto, but is not involved in the underlying litigation. "XRP is used, primarily, to expedite international peer-to-peer currency transactions directly without the need for an intermediary." Segal said that going forward, the @SECGov dropping the Ripple appeal will further set the stage for congressional action on crypto legislation that, at a minimum, classifies cryptocurrencies with underlying business utility as commodities. As a result, regulatory actions by the SEC and the @CFTC would follow. Segal added: "Until we have a definitive legal framework, attorneys advising clients on whether a digital asset should be properly classified as a commodity rather than a security can look to the utility and attributes of XRP as guidance." Read more: law.com/nationallawjournal/2…

🧵 NEW: The @flcourts disbarred a West Palm Beach attorney who allegedly stole millions of dollars from investors, including from an imprisoned drug kingpin who the lawyer claimed to have invested funds in assets such as Bitcoin at around $827 for 363 shares.

The @SECGov and @binance asked the U.S. District Court for the District of Columbia Monday evening for a 60-day stay of the litigation over the agency’s allegation that the crypto exchange inflated trading volumes, diverted customer funds and misled investors about its market surveillance controls.