Cryptocurrency Bankruptcies Bring in $751 Million for Law Firm

Law firms handling 2022 cryptocurrency bankruptcies collected a total of $751 million in fees as of August 2023, according to Cointelegraph. Four law firms - Sullivan & Cromwell, Kirkland & Ellis, White & Case, and Cleary Gottlieb - accounted for 64% of those fees, earning a total of 484 million dollars. Of those, Sullivan & Cromwell was the top-earning firm with $215 million for handling the FTX bankruptcy case.Kirkland & Ellis was second with $120 million, handling mostly Voyager, BlockFi and Celsius.White & Case and Cleary Gottlieb earned about $75 million and $73 million for handling the bankruptcy cases of Genesis and Celsius, respectively.