Blockchain and Virtual Currency

In a fast-paced and unprecedented market, companies need a global and agile legal team. Orrick's Blockchain and Virtual Currency group delivers thoughtful and cutting-edge advice that helps propel the industry forward while providing the legal framework to withstand regulatory scrutiny.

Our pioneering Blockchain and Virtual Currency practice advises enterprise-level companies, startups and financial institutions alike on corporate law, securities law, M&A and finance transactions. We also represent blockchain and virtual currency firms on intellectual property, technology contracting, corporate governance, and venture capital financing transactions. In addition, our strong regulatory and litigation practices provide representation on securities enforcement, litigation, employment, regulatory and compliance matters. This includes advising on:

Web 3.0 applications
Blockchain networks
Mining
Exchanges
Fundraising, including SAFTs, SAFEs and Preferred Stock financings
Token offerings, including ICOs, STOs and ETOs
Nonfungible tokens (NFTs)
Compliance, including securities law, AML and sanctions
Litigation
SEC and Government investigations
Technology licensing
Product development
Securitization of digital assets
Stable coins and custody
Bond issuances and bond tokenization
Crowdfunding and fractionalization
E-money issuance

We also contribute to legal and regulatory developments through our active participation in blockchain organizations that drive business innovation, including the Global Legal Blockchain Consortium and through Orrick's blockchain blog, On the Chain.

Engagements

Gap - Launch of its NFT platform, Gap Threads, which runs on the Tezos blockchain.

Mina - Advised Mina Foundation and its GC, Joon Kim, in their part of the Mina Protocol $92 million ecosystem raise. The Mina Ecosystem is a collective involving several groups behind Mina, a privacy-focused layer 1 protocol that leverages zero-knowledge proof technology.

Metatheory - Advised this California-based company that develops Web3-based games and interactive content on its $24 million Series A financing.

United States Tennis Association - Corporate advice regarding the NFT content, auction terms and NFT licenses for the launch of the 2021 US Open Tennis Championships NFT collection, which includes player NFTs and experiential prizes.

PayPal - Investment in the $135 million Series B financing of LayerZero Labs, a Canada-based company that is developing a protocol which aims to connect decentralized applications across multiple blockchains such as Bitcoin, Ethereum and Solana.

Nomad - Advised this Utah-based company that is building a groundbreaking approach to blockchain interoperability that allows developers to securely build cross-chain applications and bridge digital assets between chains, on its $22.5 million Series A financing. Investors included Polychain.

Ondo - Advised this Delaware-based company that developed a cryptocurrency trading platform designed to make DeFi accessible to anyone, on its $20 million Series A financing, DAO formation and $ONDO token launch, distribution and overseas public sale.

Flipside Crypto - Advised this provider of blockchain analytics and business intelligence to crypto firms, on its $50 million Series A financing, which will be used to grow its workforce, develop analytical tools and launch bounty programs.

Ballet Crypto - AML and sanctions compliance advice.

Ziglu - Advised this London-based crypto platform on its definitive agreement to be acquired by online brokerage platform Robinhood (NASDAQ: HOOD). We have also advised Ziglu on several other matters, including series seed and Series A rounds and other corporate matters.

Cometh - Advised this France-based company, which developed a blockchain game that integrates DeFi features into a spaceship game, on its $10 million Series Seed financing.

Elastos Foundation - Establishing important precedent in securities class action litigation, we secured an important ruling preserving the removal of certain Securities Act class actions to federal court under the Class Action Fairness Act (CAFA).

Integra Ledger - Collaboration to launch the Global Legal Blockchain Consortium, which is working toward the standardization, governance and application of blockchain and related technologies in global legal systems.