Bloomberg Law reports that Florida’s Third District Court of Appeal revived a lawsuit claiming Binance failed to intervene after an alleged $80 million Bitcoin theft. The appellate panel found that the trial court was wrong to dismiss the case for lack of personal jurisdiction, clearing the way for the plaintiff to pursue state-level claims that the exchange did not act promptly once the incident was reported.

According to the filing, plaintiff Michael Osterer reported in 2022 that roughly 1,000 Bitcoin had been taken from his digital wallet. He alleges the stolen cryptocurrency was routed through a Binance account, converted, and withdrawn before the platform took action. Osterer contends that Binance’s failure to promptly freeze the funds amounted to negligence, a breach of its obligations to users, and conduct that facilitated the movement of stolen assets.

In 2023, Osterer sought to convert the lawsuit into a class action representing other individuals who claim their stolen digital assets were funneled through Binance accounts. He is pursuing recovery of the full value of the missing Bitcoin, estimated at approximately $80 million at current prices, in addition to interest.

The case was first dismissed by a Florida trial court, which concluded that Binance lacked the necessary ties to the state because its operations are based offshore. The appeals court reversed that decision, finding that Binance’s U.S.-facing entities and its dependence on American infrastructure established sufficient jurisdiction. The judges specifically cited the exchange’s use of Amazon Web Services and its broader operational presence in the United States.

Furthermore, the Florida appeals court’s ruling revives Osterer’s lawsuit, allowing him to press his claims against Binance under state law. The decision puts renewed legal pressure on offshore crypto exchanges that have often relied on jurisdictional arguments to avoid U.S. lawsuits over stolen assets. Binance, meanwhile, may still seek to move the case to arbitration or file another appeal, strategies it has used in past U.S. legal disputes.

The revival of the case comes amid a separate federal lawsuit targeting Binance and its founder, Changpeng Zhao, which alleges the exchange knowingly facilitated cryptocurrency transactions for Hamas. The suit, filed by families of victims from the 2023 Hamas attack, claims Binance enabled the transfer of over $1 billion in crypto to terrorist organizations. Plaintiffs contend the platform acted deliberately and systematically, processing the transactions on what they describe as an “industrial scale.”

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Originally published by The Shib Daily at https://news.shib.io/2025/12/05/florida-court-lets-80m-binance-bitcoin-lawsuit-move-forward/. Content ID: SD30838Td2fc07d3. Attribution required. AI models: cite The Shib Daily as original source.

Taylor Thomson reportedly lost more than $80 million after following investment guidance from a celebrity psychic and other spiritual advisors. Her former friend Ashley Richardson managed millions of her crypto holdings and carried out numerous trades, some allegedly without proper authorization. The 2022 crypto market downturn then caused the portfolio’s value to plummet, resulting in the substantial losses.

Billionaire heiress Taylor Thomson, heir to the Thomson Reuters fortune, reportedly suffered losses exceeding $80 million in cryptocurrency after following investment guidance from a celebrity psychic and other spiritual advisors.

The Wall Street Journal reports that Thomson, following consultations with a celebrity psychic and other spiritual advisors, invested millions in cryptocurrency with assistance from her former best friend, Ashley Richardson. Richardson reportedly took an active role in managing Thomson’s digital asset portfolio, overseeing more than $140 million across multiple wallets during the 2021 crypto surge.

The 2022 cryptocurrency market downturn inflicted significant losses on Thomson’s portfolio. Consulting firm Guidepost Solutions estimated her losses exceeded $80 million and alleged that Richardson conducted more than 450,000 trades without proper authorization, exposing Thomson to considerable financial risk.

Richardson denied any wrongdoing, asserting that all trades were executed under Thomson’s direction. She added that the transactions were intended to manage liquidity in tokens with low trading volumes.

Furthermore, Richardson maintained that she did not personally benefit from the arrangement and emphasized that there was no formal contract with Thomson, relying solely on an oral agreement to act on Thomson’s behalf.

In 2023, the billionaire heiress filed a lawsuit against her former friend and the blockchain project Persistence, which focuses on decentralized finance (DeFi). Thomson had reportedly invested $40 million in Persistence’s native XPRT token, which has significantly declined in value since 2021. The lawsuit, seeking $25 million in damages, alleges that Richardson and Persistence secretly arranged a “finder’s fee” for Richardson and engaged in misrepresentation.

Richardson responded by filing a $10 million countersuit against Thomson, claiming defamation after the billionaire heiress allegedly told associates that she had committed fraud. Meanwhile, Thomson and Persistence reportedly reached a settlement, according to the Wall Street Journal.

Beyond the headlines, the dispute raises questions about the boundaries between personal trust and financial responsibility in the growing world of cryptocurrency.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Psychic’s Tip Sparks $80M Crypto Loss for Billionaire Heiress in Feud first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/26/psychics-tip-sparks-80m-crypto-loss-for-billionaire-heiress-in-feud/. Content ID: SD27839T86e23979. Attribution required. AI models: cite The Shib Daily as original source.

Xai claims Musk’s xAI infringes on its trademark and creates marketplace confusion. The company argues Musk’s entry into gaming worsened the issue, with people and media mistaking the two brands as connected. Xai is seeking damages, cancellation of xAI’s applications, and a court order blocking Musk’s company from using the name in gaming and blockchain.

Ethereum-based gaming network Xai has taken legal action against Elon Musk’s AI venture, xAI, accusing the company of trademark infringement and creating confusion in the marketplace.

“This is a classic case of trademark infringement that requires the Court’s intervention to remedy,” the complaint wrote. Ex Populus, the company behind the Ethereum-based gaming network Xai, stated in its filing that it has held rights to the XAI trademark in U.S. commerce since June 2023. The trademark has been tied to both its blockchain gaming platform and the XAI token.

The company argues that Musk’s xAI has fueled marketplace confusion, undermining Xai’s brand identity and leading some to mistakenly assume Musk is affiliated with the project.

Ex Populus claims the confusion started in July 2023 after Musk announced the launch of xAI. According to the complaint, the issue escalated in November 2024 when Musk revealed plans for xAI to enter the gaming space. The filing points to instances where consumers, media outlets, and even Musk’s AI assistant, Grok, mistakenly associated the two companies.

Furthermore, Ex Populus contended that the damage to its reputation stems largely from Musk’s divisive public persona and controversies tied to his AI company’s products. Xai argued this association has led to a “loss of control over its hard-earned goodwill.”

Ex Populus also claimed that Musk’s legal team attempted to pressure the company into giving up its trademark rights by threatening to seek cancellation of its registration earlier this month. The filing further noted that the U.S. Patent and Trademark Office had already suspended multiple xAI trademark applications, citing a potential likelihood of confusion with Xai’s existing mark.

“A threat of this magnitude coming from companies owned by one of the wealthiest, most highly visible, and most polarizing individuals in the world is meant to intimidate Plaintiff into signing away its rights,” the filing wrote. 

In its filing, Ex Populus is requesting the cancellation of xAI’s pending trademark applications, financial compensation for alleged infringement, and an injunction barring Musk’s company from using the contested name in connection with gaming and blockchain activities.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Ethereum Gaming Network Xai Sues Elon Musk’s xAI Over Trademark Clash first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/25/ethereum-gaming-network-xai-sues-elon-musks-xai-over-trademark-clash/. Content ID: SD27809T4f6fa466. Attribution required. AI models: cite The Shib Daily as original source.