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Over the past decade, though, and particularly in recent months, digital assets have boomed. Big names like MassMutual, MicroStrategy, and Tesla have bought Bitcoin; PayPal and Square s CashApp have made it easy to buy crypto with the tap of a finger; and major financial players like BNY Mellon and Visa and Mastercard have said they re planning to offer custody and transaction services for certain digital assets. Some SPACs have even considered getting in on the action, according to people interviewed for this story. While complex technology and scrutiny from regulators might deter some investors and big firms from adoption, lawyers have been riding the wave, clocking billable hours as they try to help clients reimagine finance while avoiding lawsuits, scandals, and enforcement action. ....
REUTERS/Lucas Jackson This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Special-purpose acquisition companies aka blank-check companies are having a moment on Wall Street. The investment vehicles raised more than $80 billion in 2020, more than five-times last year s total of $14 billion. SPACs have recently attracted bold-faced names such as hedge-fund titan Bill Ackman, LinkedIn founder Reid Hoffman, Silicon Valley power player Dragoneer Investment Group, and Moneyball star Billy Beane. But there s an ecosystem of advisors, salespeople, and lawyers pitching blank-check companies to investment platforms and wealthy people as viable financing options. We spoke with more than a dozen industry insiders to come up with a list of the market s most influential players. ....