Digital Asset Fundraising & Capital Markets

Sullivan & Cromwell provides sophisticated legal counsel on capital raising and venture transactions for cryptocurrency and blockchain businesses. The firm's capital markets practice brings together deep expertise in securities regulation, digital assets, and traditional capital markets to advise on the full spectrum of fundraising transactions.

Token Offerings & SAFTs

S&C counsels clients on structuring and executing token generation events, Simple Agreements for Future Tokens (SAFTs) and similar instruments, compliance with federal and state securities laws for token sales, preparation of disclosure documents and whitepapers, and regulatory engagement with the SEC regarding token offerings.

Equity & Debt Financings

The team advises on initial public offerings by cryptocurrency and blockchain companies, direct listings and SPAC transactions for digital asset businesses, convertible debt offerings by crypto platforms, and private placements of equity and debt securities to institutional investors.

Venture & Growth Capital

S&C represents leading venture capital firms and growth equity investors in financings of cryptocurrency and blockchain startups, advising on Series A through late-stage growth rounds, negotiating investor rights and governance terms, structuring equity and token warrants, and coordinating multi-jurisdictional investment structures.

Project Finance

The practice advises on project financings for digital asset infrastructure including cryptocurrency mining facilities, blockchain data centers, and digital asset custody operations. Recent work includes representing lenders and borrowers in senior secured credit facilities, mezzanine financings, and equipment financings.

Regulatory Strategy

The firm provides strategic counsel on capital markets regulatory issues unique to digital asset companies, including securities law analysis for tokens and digital assets, regulatory roadmaps for transitioning from private to public capital markets, disclosure obligations for digital asset holdings and operations, and engagement with regulators on novel capital-raising structures.