FTX’s $950 Million Bankruptcy Fees Among Costliest Since Lehman

The cost of FTX’s bankruptcy is approaching $1 billion, cementing the implosion of Sam Bankman-Fried’s crypto enterprise as one of costliest Chapter 11 cases in US history.

Nearly $948 million was paid to more than a dozen firms hired to work on the bankruptcy through Jan. 2, and more than $952 million in fees have been approved by the court, records show.

Hefty as it is, that outlay appears to be paying off for the crypto platform’s creditors. Most customers are poised to get back 118% of what they were owed, a rare outcome in the Chapter 11 process, ...