Crypto News

Former FTX Top Lawyer Accuses US Legal Team of Channeling Business to S&C

A former chief lawyer for FTX has accused the company's U.S. general

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.

Tags

I am a dedicated crypto and blockchain content writer who is vision-oriented, diligent, smart, and self-motivated. I have over a decade of self-writing experience and five years of experience as a professional writer. I hope to inspire other women into this ever-evolving field.