Lawyer quoted in ‘Law360’ on anticipated 2023 crypto insolvency trends

BCLP Counsel Jarret Hitchings was quoted Jan. 2 by Law360 on anticipated activity in the insolvency industry in 2023, and particularly the crypto space. Reflecting on a wave of cryptocurrency cases that hit bankruptcy courts at the end of 2022, due in part to the high-profile FTX bankruptcy, Jarret said, “Within the crypto industry, you're likely to see continued dominoes falling and continued contagion. At a high level, it doesn't seem like there is a lot of immediate risk that this spreads beyond the crypto space.” Jarret noted the distress is likely to be contained to the digital asset trading space because it is a relatively insular industry at this point, and any players from outside the space are likely to be well-heeled hedge funds that can weather the loss of their investments.