PayPal seemingly got a 'Conditional BitLicense' ... then a full BitLicense while PayPal's customer money sits at Wells Fargo.
Meanwhile, Cromwell was also representing FTX.
The Superintendent is a former Cromwell attorney.
Gunnar
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Banking Group Of The Year: Sullivan & Cromwell
By Jon Hill
Sullivan & Cromwell LLP's attorneys steered a stricken Credit Suisse into the arms of UBS for the biggest bank merger since the 2008 financial crisis and helped Wells Fargo reach a record-setting $3.7 billion settlement with the Consumer Financial Protection Bureau, earning the firm a spot among Law360's 2023 Banking Groups of the Year.