Crypto Meltdown A Boon For Bankruptcy Lawyers
Posted on AllSides December 3rd, 2022
From The Center
Turmoil in the cryptocurrency industry has rattled major exchanges and sent the value of digital assets tumbling, but at least one group stands to gain: bankruptcy lawyers.
High-profile bankruptcies involving crypto exchange FTX, hedge fund Three Arrows Capital and crypto lenders BlockFi, Celsius Network and Voyager Digital Ltd are generating new opportunities - and big fees - for law firms that counsel troubled companies.
Large law firms can rake in more than $100 million in legal fees during a long-running bankruptcy, experts said.
"You've got to pay the gravedigger," said...
