FTX paid $120 million to get advice

From the beginning of February to the end of April, the bankrupt FTX crypto exchange paid more than $ 120 million. The entire amount was spent on the repayment of consulting services and financial advice. This was reported by The Block.

Who was paid and how much

The lawyers of the crypto exchange from Sullivan and Cromwell received the most payment. Their fee amounted to over $37.5 million. Jefferies, the venture capital company, received the least. Their fee was 730 thousand dollars.

The consultants who were involved in the restructuring received about $ 37 million. Of these, only food exceeded 51 thousand dollars. Almost 150 million was paid for the accommodation of specialists and only a little less than $ 2,000. other expenses were made up.

At the same time, the publication stated how consultants engaged in restructuring with their requirements and fees can stand above the rest. At the same time, they have the highest priority, unlike unsecured claims, which also include user deposits.

According to the documents, FTI Consulting worked approximately 686 hours. At the same time, their fee is almost 762 thousand dollars. This data is indicated only for the process of restarting the crypto exchange.

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