Lawyers, accountants, consultants, cryptocurrency analysts and other professionals have racked up more than $700 million in fees since last year from the bankruptcies of five major crypto firms, including the digital currency exchange FTX, according to a New York Times analysis of court records. That sum is likely to grow significantly as the cases unfold over the coming months.
Among the biggest winners from the five cases are two major law firms. Sullivan & Cromwell, which is managing FTX’s bankruptcy, has charged more than $110 million in legal fees and recorded over $500,000 in expenses. Kirkland & Ellis has billed $101 million for its work on three of the crypto bankruptcies, with $2.5 million in expenses, according to The Times’s analysis.
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