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5.15.26
Takeaways from the Maduro Raid Prediction Market Indictment
On April 23, 2026, the Commodity Futures Trading Commission (CFTC) and the U.S. Attorney’s Office for the Southern District of New York (SDNY) brought parallel civil and criminal charges against U.S. Army Master Sergeant Gannon Ken Van Dyke related to insider trading in connection with event contracts used in prediction markets. The civil complaint marks the first-ever insider trading case brought by the CFTC involving event contracts in prediction markets.
Client Highlights
5.05.26
Wilson Sonsini Advises Off Piste Capital on Launch of Fund
On April 29, 2026, Off Piste Capital, a venture capital firm launched to support exceptional founders building the future, announced its first close of Off Piste Fund I with a group of strategic limited partners, including Edition Ventures. The fund is designed to invest in companies building the systems and infrastructure of the future. Wilson Sonsini Goodrich & Rosati advised Off Piste on the transaction.
Alerts
4.27.26
SEC and CFTC Propose to Scale Back Form PF Reporting Requirements
On April 20, 2026, the Securities and Exchange Commission (SEC) and U.S. Commodity Futures Trading Commission (CFTC) jointly proposed amendments to Form PF that would significantly reduce reporting obligations for many private fund advisers while seeking to preserve regulators’ ability to monitor risk in the private fund space.
Newsletters
1.29.26
All Eyes on AI: Regulatory, Litigation, and Transactional Developments - Q3/Q4 2025
Wilson Sonsini’s All Eyes on AI: Regulatory, Litigation, and Transactional Developments closely follows the evolving regulatory landscape for artificial intelligence (AI) in the U.S., new EU regulations for AI, international developments, litigation, recent deals highlights, firm publications, and other AI and machine learning highlights. This latest Q3/Q4 2025 edition features:
Client Highlights
10.21.25
Wilson Sonsini Advises Armada Acquisition Corp. II on $1 Billion Business Combination with Evernorth Holdings
On October 20, 2025, Armada Acquisition Corp II (Armada II), a publicly traded special purpose acquisition company, and Evernorth Holdings Inc. (Evernorth), a newly formed Nevada corporation focused on enabling institutional-scale adoption of XRP, announced that they have entered into a definitive business combination agreement through which Evernorth will become a publicly listed company. The transaction is expected to raise more than $1 billion in gross proceeds, establishing Evernorth as the largest public XRP-treasury company and a first-of-its-kind institutional vehicle built to accelerate XRP adoption. Investors include SBI, Ripple, Rippleworks, and leading digital-asset and fintech investors such as Pantera Capital, Kraken, and GSR, with participation from Ripple co-founder Chris Larsen. Upon closing, the combined company will operate under the Evernorth name and is expected to trade on Nasdaq under the ticker symbol “XRPN,” subject to applicable listing requirements and other customary closing conditions.
Newsletters
9.09.25
All Eyes on AI: Regulatory, Litigation, and Transactional Developments - Q2 2025
The latest edition of All Eyes on AI addresses the White House’s AI Action Plan, the USPTO’s plan to accelerate patent review, the EC’s details of the EU AI Act for GPAI requirements, and the Japanese market’s study on generative AI markets.
Alerts
8.08.25
The GENIUS Act Passes: Next Steps for Regulation of Payment Stablecoins
For the first time, the U.S. has passed federal legislation dedicated to establishing a regulatory framework in the cryptocurrency space, as President Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law on July 18, 2025. The Act will impose requirements surrounding the issuance and custody of “payment stablecoins,” a specific category of stablecoins defined in the Act that are intended for use as a means of payment or settlement.
Bylined Articles
7.29.25
AI in Wealthtech: Navigating the Next Era of Wealth Management
In “AI in Wealthtech: Navigating the Next Era of Wealth Management,” an article previously published in the Investment Adviser Association’s IAA Today, Wilson Sonsini partner Amy Caiazza and associate Alice Cao discuss how AI is reshaping the wealthtech space, an evolving segment of the fintech industry.
Client Advisories
7.29.25
Fintech in Brief: Treasury Postpones Effective Date of Investment Adviser AML Rule, Plans Revisions
We are pleased to share this issue of Fintech in Brief, which discusses that the U.S. Department of the Treasury’s Financial Crimes Enforcement Network has announced that it intends to postpone the effective date of the final rule establishing anti-money laundering (AML) and suspicious activity report filing obligations for registered investment advisers and exempt reporting advisers (the IA AML Rule or the Rule) and to revisit its scope at a future date. The Rule’s effective date, originally scheduled to be January 1, 2026, is now expected be extended to January 1, 2028.
Client Highlights
5.13.25
Wilson Sonsini Advises Autodesk on $1.5 Billion Credit Facility
On May 8, 2025, Autodesk, Inc., a global leader in design and engineering software, entered into a credit agreement with Citibank, N.A. and certain other parties thereto, which provides for an unsecured revolving loan facility in an aggregate principal amount of $1.5 billion. The credit agreement permits Autodesk to increase the commitments thereunder by an additional $500.0 million, subject to the satisfaction of certain conditions, including the obtaining of additional commitments for such increase. The proceeds of loans under the revolving loan facility may be used for working capital and general corporate purposes. Wilson Sonsini Goodrich & Rosati advised Autodesk on the transaction.