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Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Holds That SAFE Investors May Have Creditor Claims in Chapter 11

Pillsbury Winthrop Shaw Pittman LLP on

In In re Rhodium Encore LLC, the U.S. Bankruptcy Court for the Southern District of Texas ruled that holders of SAFEs should be treated as creditors because they possess creditor claims, not merely equity interests. The...more

Cadwalader, Wickersham & Taft LLP

Use of Payment Stablecoins as Margin and Collateral Under the GENIUS Act

Cadwalader, Wickersham & Taft LLP on

Introduction The Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the “GENIUS Act” or the “Act”) establishes a legal framework for defining, issuing, custodying and managing a specific kind of...more

Cadwalader, Wickersham & Taft LLP

Making Way For Stablecoin—Genius Act Would Amend Bankruptcy Code to Accommodate Certain Crypto Assets

Cadwalader, Wickersham & Taft LLP on

Congress rarely amends the Bankruptcy Code.  Congress first adopted the Bankruptcy Code in 1978.  After a series of amendments in the early 1980s to address initial concerns, Congress amended the Code only modestly until the...more

Jones Day

The Year In Bankruptcy: 2023

Jones Day on

One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the "crypto winter" that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more

Patterson Belknap Webb & Tyler LLP

A Primer on Avoidance Actions in the Context of Crypto Bankruptcies

Patterson Belknap Webb & Tyler LLP on

In 2022, there were several high-profile crypto bankruptcy filings.  A big question in these cases is whether there will be any money to satisfy unsecured creditor claims.  If there are funds to distribute, then the...more

UB Greensfelder LLP

Chasing the Crypto: Why a Ruling in the Madoff Case May Significantly Expand the Universe of FTX Clawback Defendants

UB Greensfelder LLP on

While there are still many unknowns in FTX’s bankruptcy including what, exactly, happened to billions of dollars of customer deposits on the former crypto trading platform, one thing is almost certain: there will be an...more

Nelson Mullins Riley & Scarborough LLP

Chapter 15 – A Useful Tool for Protecting and Preserving Assets in Cryptocurrency Insolvency Proceedings

Nelson Mullins Riley & Scarborough LLP on

In February 2022, I wrote a blog article entitled Cross-Border Bankruptcy Cases: Chapter 15 of the Bankruptcy Code and Parameters of a Discovery Tool. Since the publication of that article, there have been approximately 40...more

Tonkon Torp LLP

Crypto Trading Platforms and Bankruptcy Law: Are Clients Protected?

Tonkon Torp LLP on

Cryptocurrency investors, who were already in the icy clutches of the so-called “crypto winter,” now have another reason to shiver. Insolvency issues are cropping up with some frequency among crypto companies, which is...more

Carlton Fields

The Coming Storm: DeFi and Bankruptcy Courts

Carlton Fields on

DeFi or “decentralized finance” is an emerging branch of the cryptocurrency and blockchain movement that attempts to use smart contracts and blockchains to provide financial services typically only available from centralized...more

Jones Day

The Year in Bankruptcy: 2017

Jones Day on

The initial year of the Trump administration colored much of the political, business, and financial headlines of 2017, both in the U.S. and abroad. Key administration-related developments in 2017 included U.S. withdrawal from...more

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