ChatGPT Estimates 8,000 to 12,000 Lawyers Working on FTX Bankruptcy

n a recent exchange on X, crypto sleuth Huber posed a challenging question to ChatGPT surrounding the FTX bankruptcy case. The question, “How many bankruptcy attorneys can I hire on average for 1.4 billion US dollars for 12 months? Make a rough estimate,” initiated a detailed exploration into the extensive legal framework of the FTX process.

According to ChatGPT’s estimations, 8,000 to 12,000 lawyers worked full-time on the FTX bankruptcy case. GPT dove deeper and made calculations based on the average annual salary of a bankruptcy attorney, ranging from $100,000 to $150,000. GPT estimated a potential hiring capacity of 9,333 to 14,000 attorneys for 12 months with a budget of 1.4 billion US dollars.

Huber’s subsequent question sought to discern the number of the highest-paid 1% of lawyers that could be hired with the same budget. Assuming an average annual salary of $1,000,000 for this group, the estimate stood at approximately 1,400 highly paid lawyers for a one-year duration.

However, these revelations come on the heels of a significant development in the FTX bankruptcy case. In a recent revelation by CasaHODL CTO Jameson Lopp, it was disclosed that the total FTX legal fees amounted to $1.45 billion, surpassing the owed amount to customers, which stood at $1.42 billion.

Intriguingly, the creditor disclosed that fully paid legal fees since the initiation of the FTX bankruptcy case reached approximately $350 million. This revelation sheds light on the massive financial scale of the legal intricacies surrounding FTX.