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Crypto bankruptcies net law firms $751M in fees
30.8.2024
Four law firms collectively earned $484 million from their work on the crypto bankruptcies, representing 64% of all fees requested and received in these cases
SEC Closing Salt Lake Regional Office After Failed Legal Battle Against Crypto Firm
5.6.2024
The U.S. Securities and Exchange Commission (SEC) has announced the closure of its Salt Lake Regional Office (SLRO) due to attrition and a focus on organizational efficiency. This move will reduce the number of SEC regional offices from 11 to 10. The jurisdiction for Utah, previously held by SLRO...
Liquidators of South African BTC Scam Allocate Nearly 40% of Recovered Funds to Legal Fees and Taxes
4.6.2024
Out of the approximately $60 million (ZAR1.1 billion) that was recovered to pay back victims of the collapsed bitcoin investment platform Mirror Trading International (MTI), only $34.3 million remains. Court documents reportedly state that liquidators have used the recovered funds to pay...
Legal fees skyrocket in high-profile crypto bankruptcies
31.5.2024
High-profile bankruptcy cases have become a lucrative goldmine for two major law firms involved in the legal proceedings: Sullivan and Cromwell and Kirkland and Ellis
Judge Condemns SEC’s Handling of DEBT Box Case, Ordered to Reimburse Legal Costs
19.3.2024
The US Securities and Exchange Commission was sanctioned for its controversial restraining order against crypto firm DEBT Box, a March 18 court filing showed.
The post Judge Condemns SEC’s Handling of DEBT Box Case, Ordered to Reimburse Legal Costs appeared first on Cryptonews
FTX Legal Fees Amount to $1.3 Million Per Day, Creditors Concerned
18.12.2023
Source: Adobe Bankrupt digital asset exchange, FTX has paid hundreds of millions in legal fees in a few months sparking reactions as creditors seek to recover their losses. Court filings show that over $118 million were billed on the exchange between August and October for professional legal fees...
Yuga Labs Awarded $1.6 Million in Damages in NFT Copyright Infringement Lawsuit Against Ryder Ripps
27.10.2023
A California federal judge said that Yuga Labs, the blockchain company behind some of the most popular collectibles of the NFT boom, is entitled to receive nearly $1.6 million in damages, plus legal fees, from a conceptual artist and his business partner who copied Bored Ape’s NFT art....
Cøbra Can't Fight $700K Craig Wright Legal Fees as an Anon, UK Judge Rules Again
19.9.2023
The pseudonymous Bitcoin.org operator lost an appeal on a November ruling that said he cannot challenge legal fees from the self-proclaimed Bitcoin inventor while remaining anonymous
Bankrupt Celsius to spend $24M from GK8 sale on legal expenses
18.7.2023
After buying GK8 for $115 million in 2021, Celsius is selling it for $25 million, spending 96% of the sale proceeds on legal fees
Kim Dotcom-Backed Crypto Startup Bitcache Liquidated in New Zealand
15.7.2023
Bitcache, a crypto startup backed by Kim Dotcom, has been liquidated, reportedly over unpaid legal fees. Phil Creagh, an Auckland lawyer who acted as Bitcache’s director until Sept. 2020, is reported to have applied for the startup’s liquidation on May 24. Bitcache’s Unpaid Legal Fees A...
Voyager Digital’s Bankruptcy Battle Racks Up Millions in Legal Expenses
4.7.2023
A recent court filing from the now-insolvent Voyager Digital Holdings and its creditor committee revealed that legal expenses amounting to $16.5 million have accumulated from July 22, 2022, through May 18, 2023. The records indicate that between March and May 2023, roughly $5.17 million in legal...
Creditors for bankrupt Voyager Digital billed $5.1M in legal fees
4.7.2023
Voyager is not the only crypto firm incurring hefty legal fees; FTX, for example, has been billed over $120 million in fees
Winklevoss slams DCG's Silbert — Not even SBF was 'capable of such delusion'
4.7.2023
In an open letter, Cameron Winklevoss slammed DCG's Barry Silbert for allegedly playing the victim card while owing $1.2 billion to Gemini’s 232,000 Earn customers
Voyager to pay $1.1 million in legal fees incurred in April
28.6.2023
Certain members holding high positions within the firm bill an hourly rate exceeding $2,000 for their professional services
Voyager to Pay $1.1M Legal Fees for April
28.6.2023
Some of the firm’s attorneys billed Voyager upwards of $150,000 for their work during the month
CZ, Powell and more rally to fund legal fees for on-chain sleuth ZachXBT, surpassing $1M
18.6.2023
ZachXBT estimates that the legal fees could “easily exceed” $1 million and alleged that MachiBigBrother is “using his money to try” and silence him
FTX's bankruptcy lawyers and advisors pocket $32.5M in February
11.4.2023
The reimbursement expenses for FTX’s massive team of legal professionals are just as exorbitant in February as they were the previous month
FTX lawyers, creditors slam SBF's petition to get legal fees reimbursed
30.3.2023
The creditor's committee and FTX lawyers have raised several arguments in objecting to Bankman Fried’s request. A hearing date is set for April 12
SBF legal fees, BTC market cap flips Meta and USDC climbs back to $1: Hodler’s Digest, March 12-18
18.3.2023
Sam Bankman-Fried seeks to use FTX’s corporate insurance, Bitcoin outperforming Wall Street banks in 2023 and USDC repegs after turbulent days
Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees
15.3.2023
FTX's legal counsel requested insurers to advance or reimburse Bankman-Fried's defense costs and fees under the company's directors and officers (D&O) insurance