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Governor Hochul Vetoes Proposed New York Law Banning Use of Non-Compete Agreements

Governor Hochul has vetoed legislation that would have imposed a ban on the use of non-compete agreements in the State of New York.  The New York legislation outlawing restrictive covenants was passed by the Legislature on June 20, 2023, and vetoed by the Governor on December 22, 2023.  The legislation…

FTC Proposes Rule To Ban Non-Compete Agreements Used By Employers

The FTC has proposed a new rule that would ban employers from entering into non-compete agreements with their employees.  The FTC estimates that 30 million persons, or about 20 percent of the United States workforce, are restrained by non-compete clauses with their current employers.  In addition to outlawing non-competes from…

Samuel Bankman-Fried, Founder of Crypto Company FTX Trading and Alameda Research, Indicted and Arrested

By Thomas J. McNamara, Esq. Samuel Bankman-Fried, a/k/a “SBF,” the founder of crypto exchange FTX Trading Ltd. (“FTX”), and the hedge fund known as Alameda Research (“Alameda”) has been indicted on eight counts in an indictment unsealed by the United States Attorney for the Southern District of New York.  SBF…

Justice Department Announces Indictment and Arrest of Coinbase Manager and Two Others in Illegal Crypto Insider Trading Scheme

By Thomas J. McNamara, Esq.   The United States Justice Department has unsealed an indictment charging Ishan Wahi, a former product manager at Coinbase Global, Inc. and two others with a scheme to engage in insider trading in cryptocurrency assets by using confidential Coinbase information about which crypto assets were…

Bitcoin In Your 401(k) Plan?

By Thomas J. McNamara Fidelity Investments reportedly plans, later this year, to add investments in Bitcoin to its menu of 401K investment options available to 23,000 employers who use Fidelity to administer their retirement accounts.  Fidelity’s move is the result of growing interest from plan sponsors for opportunities to offer…