FTX paid a total of $118.1 million for bankruptcy consulting services from August to October, averaging $53,000 per hour

ChainCatcher news, according to Cointelegraph, court documents show that from August 1 to October 31, the bankruptcy lawyers and advisors of the cryptocurrency exchange FTX charged a total of $118.1 million in fees, which amounts to $1.3 million per day or $53,300 per hour over the 92 days. The largest bill came from the management consulting firm Alvarez and Marshall, with a service fee of $35.8 million for three months. In second place is the global law firm Sullivan and Cromwell, charging $31.8 million. The average hourly rate for services from Sullivan and Cromwell is $1,230 per hour. The global consulting firm AlixPartners charged $13.3 million for legal and investigative professional services during this period. Quinn Emanuel Urquhart & Sullivan charged $10.4 million during the same period, while several smaller consulting firms collectively charged over $26.8 million.

Meanwhile, an anonymous FTX creditor shared data in a December 17 X post indicating that since the start of the FTX bankruptcy case, FTX has fully paid legal fees totaling approximately $350 million.