ChainCatcher news, according to a report by u.today citing The New York Times, Tether co-founder Brock Pierce is currently embroiled in a legal dispute with business partners. Pierce acquired the W Hotel on Vieques Island, a Caribbean island off the east coast of Puerto Rico. The resort was once a major attraction on the island but was closed due to severe damage caused by a Category 5 hurricane in the Caribbean. However, the hotel's revival has faced significant obstacles, including legal challenges and unpaid bills.It is reported that logistics magnate Lipsey lent Pierce $4 million to help him purchase the remaining portion of the hotel, but after accusing Pierce of breaching the terms of the agreement, Lipsey ultimately seized control of the W Hotel. Pierce has been accused of misappropriating funds and hosting an extremely lavish party. Later, Lipsey also accused Pierce of attempting to kidnap him at another hotel. Pierce has denied these allegations. Both parties are currently discussing possible settlement options.Reports indicate that Pierce has fallen into financial trouble after being abandoned by his business partners, and local Puerto Ricans are dissatisfied with Pierce's attempts to turn the Caribbean island into his private playground. The media commented, "The efforts of this prominent entrepreneur to turn Puerto Rico into a cryptocurrency haven have not been successful."

According to ChainCatcher news, a legal dispute is occurring between current and former employees of the sports and entertainment blockchain solution Chiliz (CHZ), as reported by Nocut News. A former employee, Mr. A, a South Korean national, claims that he worked at Chiliz from 2020 to 2022 and was promised compensation in cryptocurrency, but failed to receive payment as scheduled. After raising the issue, he was not only dismissed but also sued.Mr. A filed a lawsuit against relevant individuals at Chiliz headquarters on April 19 of this year. Chiliz stated that Mr. A provided false information to the media, leading to the reports, and filed a civil damages and criminal defamation lawsuit against him for violating confidentiality obligations. In April of this year, Mr. A lost the damages lawsuit, but due to insufficient evidence, the prosecution decided not to file a defamation lawsuit against him.

ChainCatcher news, reported by Bitcoin.com, due to compliance issues and legal disputes involving former CEO Changpeng Zhao (CZ), multiple states in the U.S. have revoked or refused to renew Binance's money transmission licenses.The North Dakota financial regulators stated: "The commissioner found that BAM Trading Services, Inc. failed to comply with North Dakota law. Additionally, major shareholder and controller Changpeng Zhao pleaded guilty to felony charges for violating U.S. anti-money laundering laws. North Dakota joins Alaska, Florida, Maine, North Carolina, and Oregon in taking similar actions to revoke or refuse to renew BAM Trading Services' money transmission license."

ChainCatcher news, Bernstein analysts stated that after U.S. President Joe Biden vetoed the bill to repeal SAB 121, the credibility of the changing political narrative behind the approval of the Ethereum ETF by the U.S. SEC has unexpectedly decreased. They added that Biden's veto of the repeal of SAB 121 indicates that the U.S. SEC's decision is more pragmatic to avoid legal disputes.

ChainCatcher news, according to Tech in Asia, Cake Group co-founder and former CTO U-Zyn Chua has sold his remaining shares in the cryptocurrency company to CEO Julian Hosp.Previous news, U-Zyn Chua, co-founder and CTO of the cryptocurrency company Cake Group, which applied for liquidation in the Singapore High Court in November 2023, is now considering a complete acquisition of the company.

ChainCatcher news, according to CoinDesk, court documents from Thursday show that the crypto lending platform Celsius and Core Scientific have reached a temporary agreement of $45 million to resolve a long-standing legal dispute. According to the terms of the agreement, Celsius is required to pay $14 million in cash, with the remainder to be paid in adjusted claims, and must obtain approval from judges in Texas and New York. Under the agreement, Celsius also acquires the Cedarvale mining site in Texas, which spans 85 acres.Previously, Core had shut down Celsius's mining machines in January due to unpaid amounts, and Celsius had claimed $312 million.