Posts about "Publication"

The Return of Stolen Crypto Can Be a Taxing Event

Digital assets have been subject to some of the largest thefts in history. In fact, the largest crypto theft — in connection with the February 2025 $1.5 billion Bybit hack — dwarfs the Guinness Book of World Records' entry for the largest bank robbery of $282 million. See "Crypto's biggest hacks and heists after $1.5 billion theft from Bybit," Reuters, Feb. 24, 2025. Sometimes, however, all is...

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Crypto Ownership and Custodial Wallets: Owning Without Owning?

Over the last decade, year over year, hackers have stolen billions of dollars in cryptocurrencies. Last month, another of the world’s largest cryptocurrency exchanges was hacked in what has been called the largest crypto heist in history. The exchange was Bybit, based in Dubai, and the hackers, which according to a public announcement by the FBI are linked to North Korea, ran away with $1.5...

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When Stolen Crypto is Recovered, Who Is Entitled to Restitution?

The infamous Bitfinex hack is back in the public eye. Forget the Netflix show, the real drama is the actual fight over who is entitled to restitution. Account holders may have given up years ago, but they now have a chance to recover their stolen Bitcoin, though Bitfinex stands in the way. In this article for Reuters Legal News and Westlaw Today, Joseph Cioffi and his co-authors discuss the...

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Valuing Crypto in the Bankruptcy Multiverse

The recent bankruptcy filings by several major crypto platforms have given rise to unexpected realities for customers and investors. The sudden change in rights, legal exposure in bankruptcy litigation and varying outcomes in the several different proceedings can be reminiscent of a Hollywood multiverse where infinite realities are possible. Perhaps the area in which an alternate reality is most...

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Debtors Without a Cause: Whether Non-Distressed Entities Can Access Bankruptcy

The benefits afforded debtors in bankruptcy are so compelling that businesses have initiated bankruptcy proceedings without experiencing insolvency or imminent financial distress. But do such businesses have the right to do so? With no express guidance under the Bankruptcy Code, and no bright line ruling from the courts, the door is open for creditors to challenge bankruptcy cases filed in these...

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A New Push To Clear Up Marijuana’s Foggy Legal Status

Although marijuana is now legal for recreational or medical use in 37 states, it is still a federal crime to grow, sell or possess marijuana. With Congress unable to come to an agreement on marijuana's legal status, the Biden administration has been considering other means at its disposal to change its legal status. Following the recommendation from the U.S. Food and Drug Administration last...

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Knowledge Is Power: Accessing Loan Information in Troubled CMBS

If the days of “extend and pretend” actually come to an end for commercial real estate loans this year, there will be a greater focus on investors’ rights to information regarding troubled properties.

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