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      Second Circuit: Dismissal of fraud claims against crypto brokerage’s bank affirmed

      On October 9, the U.S. Court of Appeals for the 2nd Circuit affirmed a district court’s dismissal of fraud claims against a bank that provided account services to a bankrupt cryptocurrency brokerage, holding that the plaintiff failed to plausibly allege that the bank knew of the brokerage’s alleged misstatements or acted as its principal....
      By: Orrick, Herrington & Sutcliffe LLP

      Source: JD Supra
      .

      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud