FTX Paying More Legal Fees Than The GDP Of A Small Island
Portfolio Pulse from Murtuza Merchant
Cryptocurrency exchange FTX's closing down process has accumulated over $200 million in professional fees, according to a court document. Attorney Katherine Stadler, assigned to monitor the fees, revealed that attorneys and other professionals accumulated nearly 35,000 billable hours as of the end of January.
June 21, 2023 | 9:08 pm
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NEGATIVE IMPACT
FTX's closing down process has accumulated over $200 million in professional fees, which may negatively impact the value of FTT.
The high legal fees associated with FTX's closing down process indicate a complex and costly situation for the company. This could negatively impact the value of FTT as investors may perceive the company's financial situation as unstable and uncertain, leading to a decrease in demand for the token.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100