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Big law firms have amassed over $750 million in fees from handling cryptocurrency-related bankruptcies since 2022, according to Cointelegraph. This lucrative work appears to be nearing its conclusion as of August 2024. Among the top earners, Sullivan & Cromwell received $215 million as debtor's counsel for FTX, while Kirkland & Ellis earned $120 million for handling Voyager's bankruptcy. The total fees, amounting to $751 million, highlight the significant financial gains for legal firms amidst the collapse of major crypto entities.
JUST IN: Law firms have generated approximately $751 million from handling crypto company bankruptcies.
What happened in Crypto the last 12hrs...? Legal and Financial Developments - Since 2022, law firms working on crypto company bankruptcies have received $751M in fees per CoinTelegraph - UN estimates North Korean hackers stole $3B in crypto from 2017-2023, funds used to pay for… https://t.co/7PxI5y3Y7Q
aw firms working on the seven Chapter 11 crypto bankruptcies from 2022 reportedly requested and received fees totaling $751 million. https://t.co/4DCXzqFUbp