vol 20, num 3 | SEPTEMBER 2022
 
 
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Consumer Bankruptcy
 
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When Bitcoin Meets Bankruptcy: Issues for Consumers in Cryptocurrency Bankruptcy Cases
Timothy J. Anzenberger
 
Timothy J. Anzenberger
Adams and Reese LLP
Jackson, Miss.
 
 
One year ago, the value of cryptocurrencies exploded. Some invested their life savings to purchase crypto, and some made lucrative, life-changing returns doing so. By the summer of 2022, though, crypto had crashed. Many consumers had purchased and held their crypto using phone-based apps hosted by popular — and wildly successful — cryptoexchanges. However, as the value of crypto plummeted, so did the value of those exchanges, driving two exchanges to freeze customer accounts and file for bankruptcy soon after. What happens, then, to customers’ crypto when it is held by a bankrupt exchange? Unfortunately, there is no clear answer.
 
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ABI Happy Hours are a great place to see old friends and meet new ones.  If you haven't yet joined us for an ABI Happy Hour, or perhaps you have been to one, but haven't been back in a while, we hope you'll join us on October 26, 2022 at 8:00 p.m. eastern for our next Happy Hour. And it wouldn't be October without a costume contest.  Dress up (and dress your pets up) for the costume contest of the year. Of course, there will be prizes. Or, just come as you are and enjoy an hour talking about the latest trends in bankruptcy, your favorite sports team or which of the newest Emmy-award winning shows you are binge watching.  If you are new to ABI, this is a very safe place for you to meet others and get involved. Registration is free.

 
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