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Former FTX Legal Chief Forms New Law Firm Focused on Crypto Regulation

Ruholamin Haqshanas
Last updated: | 2 min read
Image Source: Unsplash/ Maria Shalabaieva

Ryne Miller, the former general counsel of the now-defunct crypto exchange FTX, has established his own law firm. 

Miller Strategic Partners will specialize in offering regulatory and strategic advice to digital asset and blockchain firms, as well as crisis response management and regulatory guidance for participants in the trading and market industry, according to an announcement by Miller on LinkedIn.

In his post, Miller said that William Schroeder, a law professor at Rutgers University and Hofstra University, who spent 36 years at Sullivan & Cromwell, will join him as a partner in the venture.

“I am honored to embark on this journey with my long-time friend, mentor, and now partner, William Schroeder,” the post read. 

“Together, we look forward to offering our experience and expertise to all clients working towards the advancement of fair, competitive, innovative, and efficient markets, across institutionally traded asset classes.”

Miller departed from FTX in March of this year, four months after the exchange, founded by Sam Bankman-Fried, filed for Chapter 11 bankruptcy protection. 

Prior to his tenure at FTX, Miller served as a partner at the Manhattan-based law firm Sullivan & Cromwell and as legal counsel to Chairman Gary Gensler at the Commodity Futures Trading Commission.

More FTX Executives Plea Guilty

Miller’s launch of his new law firm comes as more and more FTX executives are entering plea deals. 

Just last week, former co-CEO of FTX Digital Market Ryan Salame revealed plans to plead guilty over criminal charges associated with the collapse of FTX.

As reported, Salame is expected to go forward with the plea on September 7 at a Manhattan Federal Court after lengthy negotiations with prosecutors.

Among the other executives of FTX and its sister companies, former Alameda Research CEO Caroline Ellison has agreed to plead guilty to seven offenses, which include charges of wire fraud, securities fraud, and money laundering. 

Likewise, Gary Wang, FTX’s former chief technology officer, and Nishad Singh, the former director of engineering at the crypto exchange, have pleaded guilty to criminal charges. 

However, Sam Bankman-Fried, the disgraced founder of FTX, has pleaded not guilty.

Meanwhile, in the latest development in the FTX saga, it was revealed that the platform holds approximately $7 billion in assets, including $1.16 billion worth of Solana (SOL) tokens and $560 million in Bitcoin (BTC).

On Wednesday, a judge in the US Bankruptcy Court for the District of Delaware ruled that FTX can sell and invest its crypto holdings to pay back creditors.

Meanwhile, Justin Sun, the founder of Tron Network, has said that he is considering making a bid for the assets held by FTX to reduce the impact a sale could have on the market as he aims to ignite growth in the sector.