Legal fees for the bankruptcy proceedings of FTX, the collapsed crypto exchange, have surpassed the amount owed to its creditors. Recent compensation filings show that FTX has been billed around $1.45 billion by legal experts, while just over $1.42 billion is owed to out-of-pocket customers. The filings also reveal that FTX has paid lawyers a total of $350 million since the bankruptcy proceedings began earlier this year, with fees averaging $1.4 million per day from August to October. Concerns have been raised about the excessive fees charged by the legal firms handling the FTX bankruptcy.
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Crypto exchange FTX owes more to lawyers than to creditors in bankruptcy proceedings
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