In the turbulent world of crypto, even well-established players face hard times. Voyager Digital, a once-thriving cryptocurrency brokerage, now facing bankruptcy, is set to pay over $1 million for legal services provided in April.
Voyager Digital’s struggle illuminates the challenging climate for crypto firms amid market volatility, leading to the eventual bankruptcy of the company. This unfortunate turn of events has led Voyager Digital to rely heavily on the expertise of Kirkland & Ellis, its legal advisor, to navigate through its bankruptcy process.
However, Kirkland & Ellis’s aid comes at a steep cost, as Voyager Digital is expected to spend approximately $1.1 million on fees and expenses incurred by the law firm in April.
Escalating Costs Amid Bankruptcy
Documents indicate a significant cost associated with the legal aid provided by Kirkland & Ellis. The law firm applied a blended hourly billing rate of $1,313.18 for all services rendered during April.
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