Aaron L. Hammer, Rick S. Rein, Dan Wen and Claudia Suszczynska of HMB Legal Counsel provide an overview of the decline in the cryptocurrency industry in 2022, otherwise known as a “crypto winter,” and the potential impacts of a surge in Chapter 11 bankruptcy filings by players in the space.
The advent of cryptocurrency created a new asset class and in the years since its introduction has slowly created new opportunities in the asset-based lending market for crypto-backed lenders like SALT Lending.
Bloomberg reported the cryptocurrency market dropped to a 10-month low amid an SEC announcement of a temporary suspension of trading in Bitcoin Tracker One and Ether Tracker One.
Like personal computers, smartphones and the internet, cryptocurrencies are here to stay. For the secured lender, the blockchain technology that protects the privacy of the borrower can present an obstacle to securing collateral and receiving repayment. Alan Rosenberg provides a detailed explanation of the technology and a guide for lenders to protect themselves in cybercurrency transactions.