This is not what Big Law firms had in mind when they started hiring crypto lawyers.
The most obvious tell: bankruptcy practitioners don’t lead the crypto groups.
As Bitcoin boomed and blockchain evangelists spoke of a technological revolution, large law firms poured in, seeking to be the trusted advisors to a fast-growing business. Quinn Emanuel even started accepting Bitcoin as payments.
Yet, as the digital asset industry convulses from huge declines in asset prices and allegations of widespread fraud, it’s restructuring lawyers who are poised to cash in on a surge of legal fees.
Source: Big Law’s Crypto Bet Is Paying Off—Just Not How Lawyers Expected
