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ARTICLE · 09 JANUARY 2023

Bankruptcy In Crypto: 3 Key Clawback And Ownership Questions Emerging

Buchanan Ingersoll & Rooney
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The cryptocurrency industry was left reeling with FTX's bankruptcy filing in November 2022, raising doubts about its future viability.

United StatesTechnology
Mark Pfeiffer
Mark Pfeiffer
Sahel Ahyaie Assar
Sahel Ahyaie Assar
Lauren V. Humphries
Lauren V. Humphries
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The cryptocurrency industry was left reeling with FTX's bankruptcy filing in November 2022, raising doubts about its future viability. This still-unfolding case is one of the most prominent crypto bankruptcies yet and could be the catalyst to push increased federal government oversight.

Cryptocurrencies—such as Bitcoin, ether (ETH), and Solana—offer an alternative financial system that relies on cryptography-protected transactions to prevent counterfeiting and fraudulent transactions without centralized regulation or governance from traditional authorities like banks or governments. Instead, they are powered by decentralized blockchain technology which records all exchanges and keeps track of new unit issuance. And while the limited regulation has been seen as a benefit to many advocates of cryptocurrency, it's this lack of regulation that, in many ways, contributed to the recent rise and fall of FTX and several other crypto businesses that came before it.

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