Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Crypto industry bankruptcies bring in an estimated $751 million in revenue for law firms

Crypto industry bankruptcies bring in an estimated $751 million in revenue for law firms

CointimeCointime2024/08/30 13:00
By:Cointime

As of August this year, law firms that have handled seven Chapter 11 bankruptcy cases involving cryptocurrencies since 2022 have requested and received a total of $751 million in fees. Among the law firms that earned the most fees in some of the largest cryptocurrency bankruptcy cases are Sullivan & Cromwell, Kirkland & Ellis, White & Case, and Cleary Gottlieb. These four firms earned a total of $484 million for handling cryptocurrency bankruptcy cases. This accounts for 64% of all fees requested and received under Chapter 11 bankruptcy procedures. Sullivan & Cromwell had the highest revenue, reaching $215 million. The company served as the legal advisor to the debtor of FTX. Kirkland & Ellis ranked second in fees charged, collecting $120 million from clients such as Voyager, BlockFi, and Celsius, among others.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

CandyBomb x DGAI: Trade to share 60,000 USDT

Bitget Announcement2026/09/03 13:00

CandyBomb x DEBIT: Trade to share 45,000 USDT

Bitget Announcement2026/09/01 13:00

Bitget Will Support the BounceBit (BB) Contract Swap

Bitget Announcement2026/09/01 08:00

Hold USDGO for dual perks, earn up to 30%+ APR!

Bitget Announcement2026/09/01 02:00