Share this article
FTX Creditors Hire Law Firm Paul Hastings as Representation
Paul Hastings beat out multiple law firms that pitched to lead legal work in the bankruptcy proceedings, the Wall Street Journal said.
Updated May 9, 2023, 4:05 a.m. Published Dec 22, 2022, 12:48 p.m.
Paul Hastings LLP has been tapped to represent FTX creditors in the crypto exchange's bankruptcy proceedings, the law firm told CoinDesk on Thursday.
A court document filed on the same day shows the New York law firm, along with Delaware-based Young Conaway Stargatt & Taylor LLP, will be handling "all papers served or required to be served," in the bankruptcy case on behalf of creditors.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A creditor committee chose Paul Hastings from among a number of firms that pitched for the role, The Wall Street Journal reported Thursday, citing people familiar with the matter. The report added that the process to select a financial adviser is ongoing. The creditors' committee was formed last Thursday.
As the collapsed global crypto exchange's bankruptcy proceedings continue in the U.S., what remains of the company is attempting to gather over $1 billion in cash assets scattered across the globe.
At a meeting of FTX creditors held Tuesday, U.S. Trustee Juliet Sarkessian urged creditors looking to secure their representation in the case to reach out to the committee's counsel once formally in place.
"They can be contacted," said Sarkessian, a U.S Department of Justice official charged with overseeing bankruptcy cases, of the lawyers that were yet to be appointed. "They do not represent you [the creditors] personally. They may be able to provide some help though, and they may even create their own website potentially for information for creditors."
On Wednesday, FTX's disgraced founder Sam Bankman-Fried was set to be extradited from the Bahamas to the U.S. to face criminal charges. Meanwhile, two executives in his inner circle, Caroline Ellison and Gary Wang, agreed to a plea deal with the Justice Department.
Read more: FTX Has Over $1B in Cash, Creditor Meeting Told
Jack Schickler contributed reporting.
UPDATE (Dec. 22, 13:08 UTC): Reflects confirmation from Paul Hastings LLP in headline and first paragraph.
UPDATE (Dec. 23, 09:15 UTC): Adds court filing reflecting Young Conaway Stargatt & Taylor LLP will also be representing the creditors to second paragraph.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
