Site Search
Professionals 16 results
Capabilities 15 results
Industry
Cryptocurrencies, Digital Assets & Blockchain Technology
As interest in digital assets continues to rise, novel and complex legal issues emerge continually. Winston’s cross-border interdisciplinary team provides comprehensive regulatory, litigation, and transactional services on the array of issues confronting the digital assets industry. Our dedicated team features pioneering attorneys in the sector, leading litigators, former senior regulators, and in-house counsel.
Practice Area
Financial Services Transactions & Regulatory
Winston’s attorneys routinely advise clients with respect to all major banking, FinTech, broker-dealer, investment adviser, and securities laws, and we bring considerable financial services regulatory experience to these matters. Our knowledge and experience enable us to represent clients effectively and efficiently in this current environment of change and evolution.
Experience 3 results
Experience
|May 2, 2022
SAITECH Ltd. Becomes a Publicly Traded Company Via Merger with TradeUP Global Corp.
Winston & Strawn represented SAITECH Limited ("SAITECH" or the Company), a Eurasia-based energy saving bitcoin mining operator that engages in the hosting of bitcoin mining machines for its clients, in connection with its definitive business combination agreement with TradeUP Global Corp. (Nasdaq: TUGC for Class A ordinary shares; TUGCU for units) ("TradeUP Global"), a publicly traded special purpose acquisition company, that will result in SAITECH becoming a publicly listed company on NASDAQ under the new ticker symbol "SAI." The transaction values the Company, which generated revenue of approximately US$8.0M in the first half of 2021, at a pro forma equity value of US$228M. Estimated cash proceeds to the Company from the transaction are expected to consist of TradeUP Global's US$44.9M of cash in trust (assuming no redemptions). The Company expects to use the proceeds from the transaction to invest in SAITECH's growth initiatives and recycled energy technologies, including expanding the current mining data center operation capacity in Eurasia, deploying more heating data center sites in Northern Europe, exploring new mining operation sites globally, and to provide additional working capital in addition to covering transaction-related costs. Upon the closing of the transaction, and assuming none of TradeUP Global's public shareholders elect to redeem their shares, existing SAITECH shareholders, including ESAH, are expected to own approximately 80% of the outstanding ordinary shares of combined company, the TradeUP Global sponsor is expected to own approximately 4% of the outstanding ordinary shares of the combined company (and, together with certain affiliates that are existing shareholders of SAITECH), beneficially own approximately 14%), and TradeUP Global public shareholders are expected to own approximately 16% of the outstanding ordinary shares of combined company. ESAH will receive new Class B ordinary shares of TradeUP Global in exchange for existing Class B ordinary shares of SAITECH that will entitle ESAH to approximately 87% of the voting power of the TradeUP Global Class A ordinary shares and Class B ordinary shares voting together as a single class. Such new series of TradeUP Class B ordinary shares will otherwise have the same economic terms as Class A ordinary shares.
Experience
|April 29, 2022
Experience
|September 7, 2021
Blockfusion USA and Bit Digital Enter into a Mining Services Agreement
Winston & Strawn LLP represented Blockfusion USA, Inc., a crypto data center operations and services company, in its strategic co-mining agreement with Bit Digital, a bitcoin mining company. Blockfusion will provide premises and services to Bit Digital for the operation of a 35 MW bitcoin mining system, using energy that is anticipated to be generated largely from zero carbon emission sources.
Insights & News 57 results
PubCo Pulse
|November 25, 2024
|1 Min Read
SEC Chair Gary Gensler to Step Down: What This Means for ESG and Crypto Policy
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), has announced that he will step down on January 20, 2025, coinciding with the inauguration of President-elect Donald Trump. This move comes as no surprise, as Trump had previously vowed during his campaign to remove Gensler. With Gensler's departure and his replacement by the President-elect, we can expect significant shifts in SEC policy, particularly in two key areas: Environmental, Social, and Governance (ESG) issues and cryptocurrency regulation.
Article
|November 21, 2024
|10+ Min Read
How To Safely Leverage AI In The Digital Assets Industry
This article was originally published in Law360. Reprinted with permission. Any opinions in this article are not those of Winston & Strawn or its clients. The opinions in this article are the authors’ opinions only.
Client Alert
|November 14, 2024
|7 Min Read
SEC Division of Examinations 2025 Priorities
On October 21, 2024, the U.S. Securities and Exchange Commission’s (the SEC) Division of Examinations (the Division) announced its annual list of examination priorities for 2025 (the Priorities), which are developed in consultation with various internal SEC divisions and offices. The priorities reflect practices, products, and services that the Division believes present heightened risks to investors or the integrity of the U.S. capital markets. The Priorities are not an exhaustive list of issues the Division intends to target in examinations. The Division’s examinations are also likely to address emerging risks, products, market events, and other investor concerns as they arise. In this alert, you will find a summary of the priorities for the SEC in examining registered investment advisers, registered investment companies, broker-dealers, and other market participants in 2025.
Other Results 14 results
Site Content
Bitcoin is a cryptocurrency that was created and issued independent of a central bank or government. Users can purchase bitcoins through an exchange and store them in a digital wallet. They can then purchase goods or services from vendors who accept payment in bitcoin. Transactions using bitcoin are made using encrypted codes, which are exchanged across a peer-to-peer network with anonymity. Digital wallets hold bitcoin addresses, which are unique indicators consisting of alphanumeric characters. Those making purchases can start a transfer request from their bitcoin address.
Site Content
Blockchain is a technological system in which a digital list of records stored across a network. The network is a shared database comprised of a large number of computers. Blockchain is the primary technology for cryptocurrencies.
Site Content
Cryptocurrency is generally defined as a digital or virtual currency that uses cryptography for security and operates independent of a government, central bank, or similar authority. Cryptography is used to regulate the release of currency units and to verify financial transactions. Users of cryptocurrency generally send to each other through a peer-to-peer network, while remaining anonymous. The currency transfers occur through public and private keys. Every transaction is a file that includes the public keys of the sender and the recipient, as well as the amount of currency transferred. The transaction also requires the sender to confirm the transfer with a private key.