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Kirkland & Ellis Is the Go-To Law Firm for Crypto Bankruptcies

With little case law on the books, Kirkland & Ellis is working on crypto bankruptcies that could set precedents for the industry.

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Photographer: Mint Images/Getty Images

There’s an old joke in finance: when companies fight, lawyers win. And right now in crypto, lots of companies are fighting - many for their corporate lives. Kirkland & Ellis, one of the biggest law firms in the world by revenue, has emerged as a major player in crypto. Earlier this month, the firm signed on to work on the bankruptcy filings for both Celsius Network and Voyager Digital. There's relatively little case law that addresses how crypto assets - and their holders - should be treated in bankruptcy. That means that any legal precedents set now could have wide-ranging implications for an industry notorious for its boom-and-bust cycles. 

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