{"id":21944,"date":"2023-09-05T11:27:33","date_gmt":"2023-09-05T11:27:33","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-collapses-generate-hundreds-of-millions-of-dollars-for-lawyers\/"},"modified":"2023-09-05T11:27:35","modified_gmt":"2023-09-05T11:27:35","slug":"crypto-collapses-generate-hundreds-of-millions-of-dollars-for-lawyers","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/crypto-collapses-generate-hundreds-of-millions-of-dollars-for-lawyers\/","title":{"rendered":"Crypto collapses generate hundreds of millions of dollars for lawyers"},"content":{"rendered":"
The legal industry has emerged as a major winner amid cryptocurrency collapses like FTX and Celsius, generating hundreds of millions of dollars for lawyers.<\/p>\n
Lawyers, accountants, consultants, analysts and other professionals have collected at least $700 million in fees from the bankruptcies from major crypto firms over the past year, according to a report and an analysis by The New York Times.<\/p>\n
The calculated amount includes the costs charged as part of crypto bankruptcy cases of five crypto firms such as FTX, Celsius Network, Voyager Digital, BlockFi and Genesis Global between July 5, 2022 and July 31, 2023. The figure is likely to grow significantly as the cases unfold in the near future, with Sam Bankman Fried\u2019s trial coming in October.<\/p>\n