Binance and Coinbase are making lawyers big winners in life-or-death struggles against the US Securities and Exchange Commission, as the crypto companies start spending what will ultimately tally tens of millions of dollars in legal fees.
Fees from the lawsuits the SEC filed last week could stretch from $50 million to $100 million, said Farshad Ghodoosi, an assistant professor of business law at David Nazarian College of Business and Economics at California State University, Northridge.
Binance, its chief executive Changpeng Zhao, and Coinbase have assembled all-star defense teams of former top SEC lawyers who now work at high-powered firms including ...
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