Cryptocurrency bankruptcy cases bring $751 million in revenue to law firms

On August 30, Cointelegraph reported that as of August 2023, law firms handling cryptocurrency bankruptcy cases in 2022 had collected a total of $751 million in fees. Four law firms—Sullivan & Cromwell, Kirkland & Ellis, White & Case, and Cleary Gottlieb—accounted for 64% of these fees, earning a total of $484 million. Among them, Sullivan & Cromwell earned $215 million for handling the FTX bankruptcy case, becoming the highest-earning law firm. Kirkland & Ellis ranked second with $120 million, mainly handling cases for Voyager, BlockFi, and Celsius. White & Case and Cleary Gottlieb earned approximately $75 million and $73 million for handling the bankruptcy cases of Genesis and Celsius, respectively.

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