Fees from the lawsuits the SEC filed last week could stretch from $50 million to $100 million, said Farshad Ghodoosi, an assistant professor of business law at David Nazarian College of Business and Economics at California State University, Northridge.
Binance, its chief executive Changpeng Zhao, and Coinbase have assembled all-star defense teams of former top SEC lawyers who now work at high-powered firms including Sullivan & Cromwell, Wachtell, Lipton, Rosen & Katz, Gibson Dunn, Milbank, Latham & Watkins and WilmerHale.
“They’re hiring the best of the best because it is really the future of centralized exchanges that is on the line in the United States,” said Ghodoosi, who has written about the extent of litigation facing crypto companies. “This is their ultimate fight.”
Source: Lawyers Cash In on Binance, Coinbase ‘Ultimate Fight’ With SEC
