both sides are working for a common purpose, and given the fact that most of the Attestant team were staying postcompletion, this was especially true on this transaction. Both parties understood that an element of compromise was needed in negotiations, and it was really pleasing to see such a collaborative effort by all involved. From a regulatory perspective, a core aspect of the negotiation was translating the cultural regulatory gap between US regulatory concerns and those in the United Kingdom. As different regulators take different approaches to determining whether and how staking should be regulated, it was interesting to see how, despite both jurisdictions being relatively regulation heavy, there were fundamental differences in approach. Working with the Bitwise team to understand and bridge this gap was both intellectually difficult and rewarding, and it was great to see Bitwise’s commitment to ensuring that Attestant’s compliance first approach was maintained. blockchain and a compliance-first approach, and it was a delight seeing the business mature into a successful acquisition for Bitwise. Kathryn, what role did gunnercooke play in negotiating terms favorable to both parties? Attestant (and Web3 generally), was built on the foundations of fairness and collaboration and we adopted this mindset throughout negotiations to ensure terms were favorable and served both parties in the long-term. Given the nature of Attestant’s business and the deal mechanics, a large part of our role involved coming up with unique legal solutions to fit the nuances and also ensuring that all parties understood the rationale for such solutions. When negotiating an M&A transaction, 54 LAWYER MONTHLY MARCH 2025 Attestant (and Web3 generally) was built on the foundations of fairness and collaboration... both sides are working for a common purpose, and given the fact that most of the Attestant team were staying postcompletion, this was especially true on this transaction.
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