A former chief lawyer for FTX, a cryptocurrency exchange, has accused the company’s U.S. general counsel of channeling business to Sullivan & Cromwell (S&C), the law firm currently serving as FTX’s bankruptcy counsel.
Daniel Friedberg, who was the chief regulatory officer of FTX until he resigned on November 8, made the allegations in a court filing on January 19.
Friedberg claims that Ryne Miller, the lead counsel for FTX US and a former partner at S&C, channeled business towards his former law firm across multiple cases.
Friedberg also accuses Miller of earmarking $200 million of LedgerX funds for S&C to pay its legal fees. A hearing is scheduled to occur on January 20 to decide whether FTX will be able to retain S&C as its lead counsel.
