Several high-stakes legal battles in the cryptocurrency industry are approaching pivotal court dates in the coming months, with outcomes that could set significant precedents for developer liability, DeFi governance, and post-conviction appeals. The cases involve Tornado Cash founder Roman Storm, FTX's Sam Bankman-Fried, the Lido DAO, and the Stream Finance protocol.
The broader context is a regulatory environment that has seen favorable shifts under the Trump administration, including clarifying legislation and friendly regulators. However, industry frustration persists as prosecutors continue to pursue cases against developers, such as Roman Storm, for alleged violations of money transmission laws. A crypto attorney anonymously told DL News that pressure is being applied to the White House, warning that the Storm case "is going to set precedent for the industry in a way that's really problematic."
On April 9, arguments will be heard in New York regarding Storm's request to have his convictions tossed. A jury previously convicted him of conspiracy to operate an unlicensed money transmitting business (carrying a five-year maximum sentence) but was deadlocked on more severe charges of money laundering and sanctions evasion. Prosecutors are seeking a new trial on those counts.
On April 10, Caleb McMeans faces a deadline to respond to a lawsuit filed by Stream Finance co-founders. The lawsuit alleges that an "external fund manager," Ryan DeMattia, lost $93 million (17% of the protocol's assets) to cover a personal loan default and that McMeans failed to honor an agreement after taking control of the Stream brand in January 2025.
On April 13, Sam Bankman-Fried must respond to prosecutors' opposition to his request for a new trial. His push for self-representation has been complicated by evidence suggesting he received outside help, prompting Judge Lewis Kaplan to demand an affidavit by April 15 clarifying whether attorneys assisted him.
On June 18, a status update is due in the lawsuit against Lido DAO and venture capital firms Andreessen Horowitz, Dragonfly, and Paradigm. The suit, filed by Andrew Samuels, alleges Lido's LDO token is an unregistered security and that the VCs' substantial holdings made them liable. The case is currently on hold as the VCs seek to move it to arbitration.
Separately, the article notes that prediction markets are facing over 60 lawsuits related to sports betting offerings, a sector that has found mass appeal but drawn bipartisan political rebuke.
