The implosion and ensuing bankruptcy of hedge fund Three Arrows Capital (3AC) in mid-2022 sent shockwaves through the crypto industry, causing severe price volatility and leaving industry prime brokers and institutional lenders with gaping holes in their balance sheets. Indeed, the recent...
As cryptocurrency has entered the U.S. economy as a widely held and circulated asset, its presence within the bankruptcy process is quickly evolving. For bankruptcy fiduciaries, cryptocurrency poses unprecedented legal and case administration challenges. One of the most pressing issues for...
The dramatic rise in bitcoin prices from late 2020 through 2021 prompted significant growth in the bitcoin mining industry, with the number of public bitcoin mining companies growing from a handful at the beginning of 2021 to over 20 by the first quarter of 2022. During that time, bitcoin mining...
Increased volatility, uncertainty, and the early signs of an uptick in restructuring activity were the headlines that closed out 2022. These characteristics have persisted into early 2023 and, while they apply to many industries, no industry has experienced as dramatic a change as the crypto...
The theme of this year’s Distressed Investing Conference, “You Are Part of Something Bigger,” could not have been more on point, literally and figuratively! In true TMA style, nearly 1,000 attendees celebrated being part of something bigger by coming together, reinforcing connections, educating one...
We have grown in so many areas and continue to bring clarity around what it means to be part of TMA, to be more connected through TMA, and to have a world of opportunities that show how the one connection that is each of you creates the collective organization, bigger than many understood it to be...
As a result of the collapse of Three Arrows Capital in May 2022 and the more recent FTX collapse, restructuring headlines have been featuring the cryptocurrency market. Despite all the media hoopla, bitcoin and ethereum returned approximately 30% in January 2023, while the S&P 500 only managed...
