FTX advisors are set to earn $103 million in Q1 as they guide the cryptocurrency exchange through its bankruptcy proceedings. In March alone, five firms billed FTX a total of $36.4 million, slightly higher than the previous months.
New York-based law firm Sullivan & Cromwell received the highest paycheck, billing $14.1 million in fees and expenses for March and a total of $44.4 million for Q1.
Alvarez & Marsal, FTX’s restructuring advisor, invoiced over $13.8 million in March, while Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb billed FTX $3.19 million and $644,000 respectively.
AlixPartners, which analyzed FTX’s decentralized finance products and tokens, invoiced its largest bill at $4.51 million in March, totaling $10.2 million over the quarter.
Despite the troubled six months, with $7.3 billion in assets recovered, FTX’s legal team is considering a potential reboot of the trading platform as early as April 2024.
Nola Robert is considered a thought leader in crypto industry, and her work is widely read and respected by industry professionals, investors, and enthusiasts alike. Nola is also known for her ability to explain complex topics in an easy-to-understand manner, making them accessible to a wider audience.
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