What Is a Crack Spread? A crack spread refers to the overall pricing difference between a barrel of crude oil and the petroleum products refined from it. It is an industry-specific type of gross processing margin. The “crack” being referred to is an industry term for breaking apart crude oil into the component products, including
Craig Wright (b.1970) is an Australian computer scientist who claims to be Satoshi Nakamoto, the mysterious inventor of Bitcoin. According to Wright, he was involved in Bitcoin’s creation along with his friend, the deceased computer security expert Dave Kleiman. He made this claim after Wired magazine and Gizmodo floated the possibility of his being Nakamoto in
What Is a Cramdown? A cramdown is the imposition of a bankruptcy reorganization plan by a court despite any objections by certain classes of creditors. A cramdown is often utilized as a part of the Chapter 13 bankruptcy filing and involves the debtor changing the terms of a contract with a creditor with the help
What Is a Cram-Down Deal? A cram-down deal refers to a situation where an investor or creditor is forced into accepting undesirable terms in a transaction or bankruptcy proceedings. It can be used as an alternative to the term “cram down.” It has come into use as an informal catch-all for any transaction that involves
What Does Crammed Down Mean? Crammed down refers to an investor or creditor being forced to accept undesirable terms. Crammed down is mainly used to describe either a dilutive venture capital (VC) financing round or the imposition of a bankruptcy reorganization plan by the court. Key Takeaways Crammed down mainly refers to a dilutive venture capital (VC) financing round
What Is a Cram Up? A cram up is when junior classes of creditors impose a cramdown—which allows bankruptcy courts to ignore objections by creditors to recognize debts—on senior classes of creditors during a bankruptcy or reorganization. If enough junior class creditors agree to the terms set by a company seeking refinancing, they can force holdouts to be bound to
What Is the Crapo Bill? The term Crapo Bill refers to an economic bill signed into law in 2018 that eases some of the restrictions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, officially called Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2115), was sponsored by Mike Crapo, a United States
What Is a Crash? A crash is a sudden and significant decline in the value of a market. A crash is most often associated with an inflated stock market, though any market can crash, for example, the international oil market in 2016. In the U.S., a crash is determined by a precipitous drop in the
What Is the Commodity Research Bureau Index (CRBI)? The Commodity Research Bureau Index (CRBI) acts as a representative indicator of today’s global commodity markets. It measures the aggregated price direction of various commodity sectors. This commodity index comprises a basket of 19 commodities, with 39% allocated to energy contracts, 41% to agriculture, 7% to precious
What Is the Costa Rican Colón (CRC)? The Costa Rican colón (CRC) is the national currency of the Republic of Costa Rica. The currency was first issued in coin and paper form in 1896. One U.S. dollar was equal to about 601 CRC in late September 2020. Visitors to Costa Rica from the U.S. will find that
