By Brett Seaton Background Cooperation agreements (Co-Ops) with a carveout emerged over the past two years as an innovation in the landscape of corporate restructuring, shaped by the rise of covenant-lite loans and lender-on-lender violence. The “dropdown” transaction pioneered by J. Crew in 2016 and the “uptier” created by Serta…Read More
Blog
GPT in the GP’s Office: Where AI Meets VC
By Mallika Patkar A growing number of venture capital firms are exploring AI solutions to support everything from deal sourcing to portfolio monitoring. These use cases are not limited to large, data-rich institutions; smaller, more agile firms are also experimenting with tools and custom workflows to gain an edge. At…Read More
US Participation in the Basel Committee and the Issue of Transparency
By Matthew Bisanz and Jeffrey P. Taft In March 2025, the US Government Accountability Office (“GAO”) released a report on how the US federal banking regulators participated in the development of the Basel III Endgame capital standards (“GAO Report”).[1] While the GAO Report sheds some light on the operations of…Read More
Decentralization: What Blockchain Can Learn from European Schools of Political Economy
By Giovanna Massarotto Blockchain technology is a relatively new phenomenon that many of its proponents believe can help to decentralize the economy and enable economic freedom. However, what decentralization means is often unclear. Importantly, we have a century of economic studies focused on decentralization, offering valuable lessons to inform today’s…Read More
Lessons from Brazil: Central Banks Fostering Innovation
By Mallika Patkar and Joselyn Salazar According to the Atlantic Council’s Central Bank Digital Currency (CBDC) Tracker, 134 countries and currency unions, representing 98% of global GDP, are currently exploring a CBDC. This marks a significant increase from just 35 countries in May 2020. While many countries are exploring CBDCs,…Read More
America at a Crossroads: Securing Global Digital Asset Leadership
By Sarah Hammer, Executive Director at the Wharton School and Adjunct Professor at the University of Pennsylvania Carey Law School America stands at the precipice of a digital finance revolution—a historic opportunity to lead global innovation, but one that other nations are rapidly mobilizing to capture. Throughout my career investigating…Read More
A Primer on Banking-as-a-Service
By JV Pineda Over the past few years, advancements in technology and regulation such as cloud-based infrastructure, open banking regulations, and Application Programming Interface (API)-driven services have paved the way for new models of the delivery of banking services. Banking-as-a-Service (BaaS) is one of these newly emerged models, enabling non-bank entities…Read More
A Primer on Prediction Markets
By Victoria Liu and Djavaneh Bierwirth Crowdsourcing opinions, experiences and answers is not news to the Internet. Per Wolfers and Zitzewitz, “the power of prediction markets derives from the fact that they provide incentives for truthful revelation, they provide incentives for research and information discovery, and the market provides an…Read More
Enabling Economic Freedom in the Digital Economy: The Intersection of Blockchain and Antitrust
By Giovanna Massarotto In this article, I will briefly review my work on blockchain and antitrust as a way of regulating digital markets, demonstrating how blockchain and decentralized finance (DeFi) are inherently connected to the principles of antitrust law and can work synergistically in driving innovation by pursuing economic freedom…Read More
Time for Offense: Why America Needs Bold Crypto Legislation Now
By Sarah Hammer Crypto’s Promise: Redefining Finance from the Ground Up Every trade is a battle for dominance on Wall Street. It was here, starting my career as a derivatives trader in the high-stakes markets for global financial giants, that I saw firsthand the limits of a financial system stressed…Read More