Regulatory Advice

• Assisting major cryptocurrency trading firm obtain SEC no-action relief for new securities trading platform
• Assisting a major electronic market maker to conduct a comprehensive review of its compliance and surveillance practices and best execution framework
• Advising Long-Term Stock Exchange on its national securities exchange registration with the SEC and strategic arrangement with IEX
• Advising various cryptocurrency firms on business structures and securities law compliance considerations
• Assisting major investment management firm obtain FINRA approval for a new broker-dealer subsidiary
• Advising numerous non-U.S. financial firms regarding their cross-border U.S. activities
• Paxos on securing a termination letter and no enforcement action by the SEC

Transactional Advice

• Gemini in connection with its $450 million IPO
• Figure Technology in connection with its $788 million IPO
• Galaxy Digital on multiple matters, including its:
  • first ever tokenization of SEC-registered equity on a major blockchain
  • Delaware domestication and Nasdaq listing
  • $1.2 billion (terminated) acquisition of BitGo
• Grayscale Investments on multiple matters, including its:
  • formation, novel $1.8 billion seeding structure, and listing of Grayscale Bitcoin Mini Trust
  • appellate victory for the $12.4 billion Grayscale Bitcoin Trust, reversing SEC decision to block its listing and trading
• Underwriters in connection with Bullish’s $1.11 billion IPO
• Ether Machine in connection with an $1.5 billion PIPE transaction and business combination between Dynamix Corporation and The Ether Reserve
• Circle Internet Group on multiple matters, including its:
  • $1.05 billion IPO
  • launch of a smart contract enabling acquisition of BlackRock’s tokenized fund for USDC
• AssetMark on its $2.7 billion acquisition by CTCR and its strategic alliance and acquisition of Morningstar TAMP business
• BlackRock on its minority investment in TXSE Group
• Mizuho Financial Group on its $550 million acquisition of Greenhill
• Charles Schwab Corporation on its $1.8 billion acquisition of USAA brokerage assets and its $26 billion acquisition of TD Ameritrade
• Morgan Stanley on its $13 billion acquisition of E*TRADE
• Bats Global Markets in connection with its acquisition of Direct Edge, its initial public offering, and its sale to CBOE Holdings