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Digital Assets › Bankruptcy Code

Falcon Rappaport & Berkman LLP

Understanding Celsius Network Adversary Proceedings: An Insight into the Complexities of Bankruptcy Claims

Falcon Rappaport & Berkman LLP on

The Celsius Network bankruptcy case is a landmark event in the cryptocurrency world, not just because of the scale of financial failure but due to the complex legal battles it has ignited against tens of thousands of consumer...more

Morris James LLP

Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

Morris James LLP on

Cryptocurrency is in the media's spotlight and the U.S. Securities and Exchange Commission's crosshairs. After the spectacular demise of FTX Trading Ltd. and other cryptocurrency companies, customers and creditors were left...more

Nelson Mullins Riley & Scarborough LLP

Emerging Issues in Crypto Bankruptcies

Nelson Mullins Riley & Scarborough LLP on

The new frontier of crypto bankruptcies brings with it unique challenges. As more crypto platforms face financial distress and insolvency, investors find themselves navigating the intricacies of the Bankruptcy Code in a...more

Levenfeld Pearlstein, LLC

Who Owns Crypto Assets? Know the Risks

Levenfeld Pearlstein, LLC on

Until recently, the nature of ownership of assets on deposit with a third party was not controversial. If a local bank branch goes bankrupt, the cash or other assets deposited with the bank belonged to individual...more

Stinson LLP

FTX Fallout: How Sponsorship Partners are Moving Forward

Stinson LLP on

Prior to its collapse, cryptocurrency exchange FTX spent millions in sponsorship dollars securing the naming and promotional rights to National Basketball Association stadiums, Formula 1 organizations, esports teams and...more

Goodwin

Who Owns Digital Assets When a Cryptocurrency Platform Files Bankruptcy? The Terms of Use Answer the Question

Goodwin on

In a decision of first impression regarding whether certain digital assets are property of a bankrupt debtor’s estate (attached here), Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District...more

Husch Blackwell LLP

Celsius Bankruptcy Update: Who Owns the Crypto?

Husch Blackwell LLP on

On June 12, 2022, one of the largest crypto lenders in the nation, New Jersey-based Celsius Networks, froze all withdrawals and transfers between its various customer accounts, citing “extreme market conditions,” which in...more

Sullivan & Worcester

Zero Degrees Celsius: The Effects of a "Crypto Winter" and Celsius’ Bankruptcy on Crypto Customers

Sullivan & Worcester on

Part 1 – Celsius Bankruptcy - The Celsius Network was conceptualized as an alternative to conventional banking, offering its customers return rates of up to 20% on deposits of digital assets, and providing digital...more

Jones Day

Digital Assets Defined: Writing Digital Assets into the Bankruptcy Code

Jones Day on

As discussed in previous installments of this White Paper series, the Lummis-Gillibrand Responsible Financial Innovation Act (the "Bill") proposes a comprehensive statutory and regulatory framework in an effort to bring...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

Orrick, Herrington & Sutcliffe LLP

PRIVACY POLICIES AND THE SALE OF CORPORATE ASSETS: It pays to plan ahead to preserve the value of your data assets

Orrick, Herrington & Sutcliffe LLP on

Personal data is a valuable corporate asset. At times, the personal information collected from customers (such as email address, mailing address, phone number, etc.) can be a company’s most valuable asset. Unfortunately,...more

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