FTX Pays $53,000 Per Hour on Bankruptcy Fees

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According to recent compensation filings, bankrupt cryptocurrency exchange FTX has spent approximately $53,000 per hour in the three months leading up to Oct. 31 on bankruptcy lawyers and advisers.

This adds up to a total of $118.1 million between Aug. 1 and Oct. 31, averaging out to $1.3 million per day or $53,300 per hour.

The largest bill of $35.8 million came from the management consulting firm Alvarez and Marshall, followed by the global law firm Sullivan & Cromwell at $31.8 million.

Other expenses include $13.3 million from global consulting firm AlixPartners for forensic investigations, $10.4 million from Quinn Emanuel Urquhart & Sullivan, and over $26.8 million from various smaller advisory firms.