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  1. Professionals

Collin Z McVicker

Associate

Dallas

+1 214-453-6394

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Collin focuses his practice on bitcoin-based loans (BBLs) and crypto finance, advises public and private companies operating in the finance and technology industries on M&A, commercial transactions and pricing and market terms and leads some of the largest, most complex BBLs and crypto loans in the world.

Collin architects secured credit facilities from term sheet through collateral waterfalls and liquidation mechanics and is recognized as a leading authority on perfection, control, and priority for digital assets under the Uniform Commercial Code (UCC). He serves as counsel on multibillion-dollar, globally distributed digital-asset loan books, structuring and documenting complex secured loans while maintaining bank-grade controls. He has negotiated extensive institutional custody and account control agreements with leading crypto custodians and securities intermediaries and built end-to-end operating models—wallet architecture, margining, tri-party control, and treasury management—that align credit protections with market-standard economics. He has designed and scaled crypto-custody loan programs for traditional banks and alternative and digital-asset lenders, from risk policy and underwriting frameworks to collateral control and margin call playbooks.

With deep, hands-on bitcoin mining experience, Collin structures financings around hashprice dynamics, ASIC fleet composition, hosting and power arrangements, curtailment and ancillary revenue streams, and reserve and covenant packages calibrated to volatility, liquidity, and custody risk. Before joining the firm, Collin served as an observer in the UCC amendments process addressing emerging technologies, including the 2022 amendments on controllable electronic records.

In addition to his active legal practice, Collin devotes time to supporting the Association of Texas Midwives, teaching underprivileged youth financial literacy and volunteering at Texas Scottish Rite Hospital for Children in Dallas.

Key Matters

Some of the experience represented below may have been handled at a previous firm.

Crypto

  • Monet Bank, a FDIC-insured U.S. bank based in Plano, Texas, in structuring its bitcoin-based loan program for
    loans ranging from $50 million to $500 million 
  • Leading international blockchain company in:
    • A multi-billion dollar debt financing secured by bitcoin, other digital assets and foreign stock holdings
    • A billion dollar debt revolving financing to a global crypto platform secured by bitcoin and other digital
      currency
    • A multi-million dollar debt financing to a Singapore based borrower secured by pledges over foreign shares,
      bitcoin and other digital currency
    • A debt financing to a bitcoin mining venture with sites in Australia, Ethiopia, Norway, Paraguay and the United
      States with over 350 MWs of capacity and 11 hosting entities
    • A debt financing to a Hong Kong based borrower specializing in crypto trading and market-making
    • A debt financing to a London-based family office and asset management business
  • Alternative lender in structuring its real estate crypto custody loan program for real estate loans ranging from $3
    million to $300 million with bitcoin being used additional collateral to enhance LTV ratios
  • Alternative auto lender in structuring its exotic car crypto custody loan program for auto loans ranging from $250
    thousand to $2 million with bitcoin being used additional collateral to enhance LTV ratios
  • Hawthorne Street Capital, L.P., in organizing and launching its digital asset investment fund and in forming the
    bitcoin-based HSC Bitcoin Holdings fund, including establishing digital asset custody arrangements for its Bitcoin
    holdings
  • A US public company in debt revolving financing from a leading global crypto platform secured by Ethereum
  • South American bank in a financing to a financial services platform that serves cross-border businesses in
    emerging economies using blockchain technologies, backed by digital assets
  • Bitcoin mining company in negotiating an increase in its power allocation to 600MW capacity at its bitcoin mining
    site in Texas
  • Bitcoin mining company in negotiating hosting and long-term lease agreements across several sites and locations
    in the United States
  • Digital asset company in connection with a 210 million Hedera delayed draw term loan facility
  • Non-profit bitcoin foundation headquartered in Texas co-authoring a White Paper on bitcoin custody in the state
    of Texas
  • Digital asset company in connection with its initial coin offering taking bitcoin as collateral to secure investors’
    payment of cryptographic security tokens

Commercial Bank Financings

  • Multinational investment bank in a $1.05 billion cross-border, secured asset-based revolving credit facility to MRC Global, Inc. and its subsidiaries, an international distributor of pipe valves and fittings
  • Multinational investment bank in a $250 million secured asset-based revolving credit facility to Basic Energy Services
  • Multinational investment bank's renewable energy sector in the development and tax equity financing of a 100 MW solar photovoltaic (PV) and 50 MW storage project in San Bernardino, California
  • Multinational investment bank in a $2.1 billion syndicated, asset-based revolving credit facility to a contract compression services provider
  • Multinational investment bank, as administrative agent, DIP and exit facility lender in the chapter 11 bankruptcy reorganization sale of Tuesday Morning Corporation, a national retail chain
  • Multinational financial services company in a $2 billion secured reserved-based revolving credit facility to Laredo Petroleum, Inc.
  • Multinational financial services company in a $1.5 billion secured reserved-based revolving credit facility to a private operator in the Haynesville Shale
  • Multinational financial services company in a $1 billion secured reserved-based revolving credit facility to a private operator in the Permian Basin
  • Multinational financial services company in a $500 million secured reserved-based revolving credit facility to an owner of royalty and mineral interests in the Wattenberg Gas Field in Colorado’s DJ Basin
  • Multinational financial services company in a $300 million secured reserved-based revolving credit facility to a private operator in the Bakken Formation in the Williston Basin of Montana and North Dakota
  • Multinational financial services company in a $170 million revolving credit facility provided to a midstream oil and gas company and its subsidiaries
  • Multinational financial services company in a $145 million secured revolving credit facility and $15 million term loan credit facility to a midstream crude oil and natural gas services business
  • Multinational financial services company in a $120 million syndicated lender group in the chapter 11 bankruptcy case of Emerald Oil, Inc., et al. filed in Delaware Bankruptcy Court
  • Multinational financial services company in a $50 million revolving credit facility provided to a midstream gas company and its subsidiaries
  • Multinational financial services company's energy sector in a $300 million second lien term loan facility to an oil and gas exploration and production company
  • National investment bank in connection with a $15 million revolving credit facility to a manufacturer of archery equipment.
  • Multinational bank in connection with a $170 million revolving credit facility to a supplier of cranes.
  • Multinational bank in connection with a $30 million revolving credit facility to an asset management firm.

Borrower Representations

  • Venture capital-backed parking logistics company in various acquisitions, a revolving credit facility and a second-lien multi-draw term loan credit facility
  • Venture capital-backed last mile eCommerce company in an asset-based revolving credit facility
  • Venture capital-backed minerals discovery company in a revolving credit facility and second lien multi-draw term loan credit facility
  • Privately held oil and gas exploration and production company in a $500 million secured reserved-based revolving credit facility
  • Publicly traded oil ang as exploration company in a $152 million second lien notes offering and $54 million third lien notes offering
  • Nine Energy Services, Inc. in a $175 million secured term loan and revolving credit facility in connection with its initial public offering
  • Public technology company in connection with $108 million revolving, $90 million second lien term and $20 million third lien term credit facilities and additional $24 million of equity financing
  • Portfolio company of private equity fund in connection with $1.133 billion term loan and $20 million revolving credit facilities to purchase more than 125 car wash sites across 7 states
  • Public cannabis company in connection with a $350 million term credit facility and up to $270 million of additional debt financing, comprised of $120 million of real-estate secured indebtedness, a $100 million accordion and a $50 million revolving credit facility to purchase more than 150 cannabis dispensaries across 15 states  
  • Portfolio company of a private equity firm in connection with a $135 million term loan, $27.5 million delayed draw term loan and $15 million first lien revolving credit facility and a $25 million term loan second lien term loan to purchase more than 50 car wash sites across Texas
  • Portfolio company of a private equity firm in connection with a $143 million term loan, $10 million first lien revolving, and $150 million second lien term credit facilities to purchase more than 135 car wash sites across five states
  • Portfolio company of a private equity firm in connection with $122.5 million term, $150 million delayed draw term and $20 million revolving credit facilities to purchase more than 70 car wash sites across Ohio and Virginia
  • Portfolio company of a private equity firm in connection with $25 million term, $5 million revolving and $7 million second lien credit facilities to purchase modern furniture and décor stores
  • Portfolio company of a private equity firm in connection with $100 million revolving and $35 million term credit facilities to acquire providers of fire and security protections
  • Portfolio company of a private equity firm in connection with a $29 million term credit facility for general corporate purposes
  • Portfolio company of a private equity firm in connection with $5.5 million term credit facility to purchase airplanes
  • Portfolio company of a private equity firm in connection with $5.3 million term credit facility to purchase real estate
  • Private equity fund in connection with $135 million term credit facility and $250 million equity commitment from an alternative capital provider
  • Public company in connection with $30 million revolving and $165 million term credit facilities

Private Credit & Alternative Capital

  • Special situations investor and its co-investors in a $247.5 million secured term loan credit facility provided to a grid-scale solar generation project development and construction business
  • Special situations investor in a $93 million revolver and multi-draw term loan facility provided to a series of marine retail dealerships
  • Bluescape Energy Recapitalization and Restructuring Fund III and its parallel funds in a $100 million subscription line facility
  • Private debt capital fund in a $40 million subordinated term loan to acquire a pharmaceutical technology business
  • Private debt capital fund in a $26 million subordinated term loan to acquire a biotechnology development business
Recent Experience
Winston assists Santa Fe Operating, a subsidiary of HRM Resources IV, LLC, a Kayne Anderson Capital Advisors sponsor-backed borrower, in a reserve-based lending facility
Winston Advises on Pioneering Bitcoin Crypto Lending Programs
Picard Medical and its Subsidiary, SynCardia Systems, Announce Business Combination with Altitude Acquisition Corp.
Spotless Brands' US$958M Senior Secured Credit Facilities Upsize

Collin was named in the 2025 edition of Lawdragon 500 X – The Next Generation for Corporate, Innovation & Technology.  He was also recognized by Best Lawyers: Ones to Watch®in America in the area of Banking and Finance Law from 2023–2026. 

  • Legislative Committee, Association of Texas Midwives (September 2025 – Present)
  • Observer, Uniform Law Commission Committee on the Uniform Commercial Code and Emerging Technologies (July 2021 – Present)
  • Volunteer, Texas Scottish Rite Hospital for Children (November 2019 – Present)
  • Board Member, Fraternity and Sorority Political Action Committee (June 2011 – May 2012)

Capabilities

Transactions
Debt Finance
Finance
Financial Innovation & Regulation
Private Equity
Private Investment Funds
Financial Restructuring
Cryptocurrencies, Digital Assets & Blockchain Technology
Financial Services
Energy

Key Matters

Some of the experience represented below may have been handled at a previous firm.

Crypto

  • Monet Bank, a FDIC-insured U.S. bank based in Plano, Texas, in structuring its bitcoin-based loan program for
    loans ranging from $50 million to $500 million 
  • Leading international blockchain company in:
    • A multi-billion dollar debt financing secured by bitcoin, other digital assets and foreign stock holdings
    • A billion dollar debt revolving financing to a global crypto platform secured by bitcoin and other digital
      currency
    • A multi-million dollar debt financing to a Singapore based borrower secured by pledges over foreign shares,
      bitcoin and other digital currency
    • A debt financing to a bitcoin mining venture with sites in Australia, Ethiopia, Norway, Paraguay and the United
      States with over 350 MWs of capacity and 11 hosting entities
    • A debt financing to a Hong Kong based borrower specializing in crypto trading and market-making
    • A debt financing to a London-based family office and asset management business
  • Alternative lender in structuring its real estate crypto custody loan program for real estate loans ranging from $3
    million to $300 million with bitcoin being used additional collateral to enhance LTV ratios
  • Alternative auto lender in structuring its exotic car crypto custody loan program for auto loans ranging from $250
    thousand to $2 million with bitcoin being used additional collateral to enhance LTV ratios
  • Hawthorne Street Capital, L.P., in organizing and launching its digital asset investment fund and in forming the
    bitcoin-based HSC Bitcoin Holdings fund, including establishing digital asset custody arrangements for its Bitcoin
    holdings
  • A US public company in debt revolving financing from a leading global crypto platform secured by Ethereum
  • South American bank in a financing to a financial services platform that serves cross-border businesses in
    emerging economies using blockchain technologies, backed by digital assets
  • Bitcoin mining company in negotiating an increase in its power allocation to 600MW capacity at its bitcoin mining
    site in Texas
  • Bitcoin mining company in negotiating hosting and long-term lease agreements across several sites and locations
    in the United States
  • Digital asset company in connection with a 210 million Hedera delayed draw term loan facility
  • Non-profit bitcoin foundation headquartered in Texas co-authoring a White Paper on bitcoin custody in the state
    of Texas
  • Digital asset company in connection with its initial coin offering taking bitcoin as collateral to secure investors’
    payment of cryptographic security tokens

Commercial Bank Financings

  • Multinational investment bank in a $1.05 billion cross-border, secured asset-based revolving credit facility to MRC Global, Inc. and its subsidiaries, an international distributor of pipe valves and fittings
  • Multinational investment bank in a $250 million secured asset-based revolving credit facility to Basic Energy Services
  • Multinational investment bank's renewable energy sector in the development and tax equity financing of a 100 MW solar photovoltaic (PV) and 50 MW storage project in San Bernardino, California
  • Multinational investment bank in a $2.1 billion syndicated, asset-based revolving credit facility to a contract compression services provider
  • Multinational investment bank, as administrative agent, DIP and exit facility lender in the chapter 11 bankruptcy reorganization sale of Tuesday Morning Corporation, a national retail chain
  • Multinational financial services company in a $2 billion secured reserved-based revolving credit facility to Laredo Petroleum, Inc.
  • Multinational financial services company in a $1.5 billion secured reserved-based revolving credit facility to a private operator in the Haynesville Shale
  • Multinational financial services company in a $1 billion secured reserved-based revolving credit facility to a private operator in the Permian Basin
  • Multinational financial services company in a $500 million secured reserved-based revolving credit facility to an owner of royalty and mineral interests in the Wattenberg Gas Field in Colorado’s DJ Basin
  • Multinational financial services company in a $300 million secured reserved-based revolving credit facility to a private operator in the Bakken Formation in the Williston Basin of Montana and North Dakota
  • Multinational financial services company in a $170 million revolving credit facility provided to a midstream oil and gas company and its subsidiaries
  • Multinational financial services company in a $145 million secured revolving credit facility and $15 million term loan credit facility to a midstream crude oil and natural gas services business
  • Multinational financial services company in a $120 million syndicated lender group in the chapter 11 bankruptcy case of Emerald Oil, Inc., et al. filed in Delaware Bankruptcy Court
  • Multinational financial services company in a $50 million revolving credit facility provided to a midstream gas company and its subsidiaries
  • Multinational financial services company's energy sector in a $300 million second lien term loan facility to an oil and gas exploration and production company
  • National investment bank in connection with a $15 million revolving credit facility to a manufacturer of archery equipment.
  • Multinational bank in connection with a $170 million revolving credit facility to a supplier of cranes.
  • Multinational bank in connection with a $30 million revolving credit facility to an asset management firm.

Borrower Representations

  • Venture capital-backed parking logistics company in various acquisitions, a revolving credit facility and a second-lien multi-draw term loan credit facility
  • Venture capital-backed last mile eCommerce company in an asset-based revolving credit facility
  • Venture capital-backed minerals discovery company in a revolving credit facility and second lien multi-draw term loan credit facility
  • Privately held oil and gas exploration and production company in a $500 million secured reserved-based revolving credit facility
  • Publicly traded oil ang as exploration company in a $152 million second lien notes offering and $54 million third lien notes offering
  • Nine Energy Services, Inc. in a $175 million secured term loan and revolving credit facility in connection with its initial public offering
  • Public technology company in connection with $108 million revolving, $90 million second lien term and $20 million third lien term credit facilities and additional $24 million of equity financing
  • Portfolio company of private equity fund in connection with $1.133 billion term loan and $20 million revolving credit facilities to purchase more than 125 car wash sites across 7 states
  • Public cannabis company in connection with a $350 million term credit facility and up to $270 million of additional debt financing, comprised of $120 million of real-estate secured indebtedness, a $100 million accordion and a $50 million revolving credit facility to purchase more than 150 cannabis dispensaries across 15 states  
  • Portfolio company of a private equity firm in connection with a $135 million term loan, $27.5 million delayed draw term loan and $15 million first lien revolving credit facility and a $25 million term loan second lien term loan to purchase more than 50 car wash sites across Texas
  • Portfolio company of a private equity firm in connection with a $143 million term loan, $10 million first lien revolving, and $150 million second lien term credit facilities to purchase more than 135 car wash sites across five states
  • Portfolio company of a private equity firm in connection with $122.5 million term, $150 million delayed draw term and $20 million revolving credit facilities to purchase more than 70 car wash sites across Ohio and Virginia
  • Portfolio company of a private equity firm in connection with $25 million term, $5 million revolving and $7 million second lien credit facilities to purchase modern furniture and décor stores
  • Portfolio company of a private equity firm in connection with $100 million revolving and $35 million term credit facilities to acquire providers of fire and security protections
  • Portfolio company of a private equity firm in connection with a $29 million term credit facility for general corporate purposes
  • Portfolio company of a private equity firm in connection with $5.5 million term credit facility to purchase airplanes
  • Portfolio company of a private equity firm in connection with $5.3 million term credit facility to purchase real estate
  • Private equity fund in connection with $135 million term credit facility and $250 million equity commitment from an alternative capital provider
  • Public company in connection with $30 million revolving and $165 million term credit facilities

Private Credit & Alternative Capital

  • Special situations investor and its co-investors in a $247.5 million secured term loan credit facility provided to a grid-scale solar generation project development and construction business
  • Special situations investor in a $93 million revolver and multi-draw term loan facility provided to a series of marine retail dealerships
  • Bluescape Energy Recapitalization and Restructuring Fund III and its parallel funds in a $100 million subscription line facility
  • Private debt capital fund in a $40 million subordinated term loan to acquire a pharmaceutical technology business
  • Private debt capital fund in a $26 million subordinated term loan to acquire a biotechnology development business
Recent Experience
Winston assists Santa Fe Operating, a subsidiary of HRM Resources IV, LLC, a Kayne Anderson Capital Advisors sponsor-backed borrower, in a reserve-based lending facility
Winston Advises on Pioneering Bitcoin Crypto Lending Programs
Picard Medical and its Subsidiary, SynCardia Systems, Announce Business Combination with Altitude Acquisition Corp.
Spotless Brands' US$958M Senior Secured Credit Facilities Upsize

Credentials

Education

Collin received a J.D., cum laude, from Washington University in St. Louis School of Law, where he was Notes Editor for the Washington University Law Review, a M.A. from the University of Illinois at Urbana-Champaign, and a B.A., magna cum laude, from the University of Illinois at Urbana-Champaign.

    Admissions
    • Texas

    Related Insights & News

    Speaking Engagements

    • Moderator, North American Blockchain Summit, “Energy, Innovation, and Oversight: Bitcoin Mining and AI Compute” (October 2025)
    • Speaker, Park House, Dallas, TX “Crypto Chat with Anthony Bassili President of Coinbase Asset Management”
      (June 2025)
    • Moderator, North American Blockchain Summit, “Bitcoin Mining and Capital Markets” (November 2024)
    • Moderator, Coinbase Investor Event, Dallas, “Best Practices for Purchasing and Holding Bitcoin” (March 2024)
    • Speaker, North American Blockchain Summit, “Fireside Chat with Congressman Pete Sessions” (November 2023)
    • Moderator, Northern District of Texas Bench Bar Conference, “Paradigm Shift: How Cryptocurrency is Changing Litigation and Government Enforcement” (April 2023)
    • Moderator, North American Blockchain Summit, Austin, TX “Crypto Tax, Accounting and Insurance” (November 2022)
    • Moderator, Texas Blockchain Council, Fort Worth, TX “Banking & Bitcoin Mining with Mayor Maddie Parker” (April 2022)
    • Speaker, Bank of America Business Capital, “Cryptocurrency as Collateral” (July 2021)

    Publications

    • Contributor, “Custodial Services” chapter, University of Chicago Legal Matters in Web3: A Desk Reference, University of Chicago, (September 2024)
    • Author, The Secured Lender, “ABLs, Bitcoin Miners & Monetizing Stranded Energy” (April 2023)
    • Co-Host, Winston & Strawn’s Let’s Talk Lending Podcast, “Let’s Talk Digital Assets: Incorporating Digital Assets as Additional Collateral for Loans” (April 2023)
    • Author, Washington University Law Review; Volume 92, Issue 6 “The Evolution of Federal Courts Healthcare Antitrust Analysis: Does the PPACA Spell the End to Hospital Mergers?” (May 2015)
    • Author, State Politics & Policy Quarterly; Volume 12, Issue 1 “Is Four Twice as Nice as Two? A Natural Experiment on the Electoral Effects of Legislative Term Length” (March 2012)
    Recognitions
    Winston Attorneys Recognized in Best Lawyers: Ones to Watch® in America 2026

    August 21, 2025

    Recognitions
    Winston Lawyers Featured on the 2025 Lawdragon 500 X – The Next Generation List

    July 11, 2025

    Sponsorship
    Winston & Strawn Sponsors The Digital Chamber’s DC Blockchain Summit 2025

    March 26, 2025

    Article
    Winston's Digital Assets & Blockchain Technology Group Contributes to Legal Matters in Web 3: A Desk Reference

    September 23, 2024

    Recognitions

    Winston Attorneys Recognized in Best Lawyers: Ones to Watch® in America 2025

    August 15, 2024

    Sponsorship
    Winston Sponsors Fourth Annual THRIVE Energy Conference

    February 20, 2024

    Blog
    Road to Bitcoin Investment Cleared with SEC’s Approval of 11 Spot Bitcoin ETFs

    January 11, 2024

    Sponsorship
    Winston Sponsors the 2023 North American Blockchain Summit in Fort Worth

    November 16, 2023

    Recognitions
    Winston Attorneys Recognized in Best Lawyers: Ones to Watch® in America 2024

    August 17, 2023

    Speaking Engagement
    Winston & Strawn Attorneys Speak at the 2023 Northern District of Texas Bench Bar Conference

    April 14, 2023

    Podcast
    Let’s Talk Digital Assets: Incorporating Digital Assets as Additional Collateral for Loans

    April 13, 2023

    Article
    ABLs, Bitcoin Miners and Monetizing Stranded Energy

    April 7, 2023

    View All Insights & News

    Capabilities

    Transactions
    Debt Finance
    Finance
    Financial Innovation & Regulation
    Private Equity
    Private Investment Funds
    Financial Restructuring
    Cryptocurrencies, Digital Assets & Blockchain Technology
    Financial Services
    Energy
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