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The crypto industry’s legal landscape is being shaped right now by a small group of lawyers and firms. Fifteen names stand out, according to the BeInCrypto Research Division’s BIC 100 Institutional Awards for 2026. These legal teams have taken on the toughest cases—bankruptcy restructurings, SEC enforcement battles, and regulatory challenges that will define how digital assets work for years to come.
Sullivan & Cromwell, working out of New York, took the lead in the FTX bankruptcy. The firm managed what became the most complex crypto bankruptcy case anyone had seen. Their fees tell part of the story: over $180 million approved so far. That’s a lot of billable hours, but the case involved untangling billions in missing funds, international jurisdictions, and a mess of commingled customer deposits. The firm basically had to rebuild FTX’s books from scratch while creditors waited.
Davis Polk & Wardwell carved out their own space through the Block.one EOS securities settlement. They’re the only firm that got ranked Band 1 across both core crypto legal categories, which matters because it shows they can handle regulatory work and private deals with equal skill. Their regulatory connections run deep, giving them an edge when clients need someone who knows how the SEC thinks.
DeFi Defense and Cross-Border Execution
Latham & Watkins built expertise in areas that didn’t even exist a few years back. DeFi, DAOs, NFTs—they defend projects in all three. What sets them apart is cross-border execution. Crypto doesn’t respect national boundaries, and neither do their legal strategies. When a protocol faces enforcement in multiple jurisdictions at once, that kind of coordination becomes critical.
Debevoise & Plimpton got pulled into the Ripple fight against the SEC. Their role centered on defending how secondary-market token sales should be treated under securities law. The outcome there influenced dozens of other cases, basically giving projects a roadmap for what might pass regulatory muster and what won’t.
Paul Grewal led Coinbase’s legal team to a win against the SEC. That case mattered. A lot. Coinbase is the biggest US exchange, and if the SEC had won, the regulatory pressure on every other platform would’ve intensified fast. Grewal’s work there made him a go-to voice in regulatory debates, the kind of lawyer who gets quoted in Congressional hearings and industry panels.
Stuart Alderoty achieved something similar for Ripple. The legal outcome he helped secure changed how people think about XRP and secondary sales more broadly. His impact ripples through the industry—companies now cite that case when they’re designing token distribution models.
Shaping Legislation From the Inside
Lewis Rinaudo Cohen took a different approach. He shaped US crypto legislation through Senate Banking testimony. His framework on ancillary assets influenced how policymakers think about what is and isn’t a security. That’s the kind of work that doesn’t make headlines every day but changes the rules everyone else has to follow.
Jake Chervinsky now leads a DeFi-focused policy group. He’s actively working to shape US regulatory direction before enforcement actions happen. Pre-enforcement strategy, some call it. The idea is to get sensible rules in place so projects don’t have to defend themselves in court later.
Fenwick & West positioned themselves as the core legal partner for Silicon Valley crypto builders. They’ve got a big team skilled in crypto, fintech, and securities law. That breadth matters when a startup faces an SEC investigation or wants to navigate a merger. Their Mountain View location keeps them close to the action, right where most crypto innovation still happens.
Cooley LLP, based in Palo Alto, got into Bitcoin early. Like, really early. They advised Bitcoin companies back when most law firms thought crypto was a joke or a scam. That early-mover advantage stuck. They still guide founders and funds through the sector’s evolution, and their reputation as OG advisors carries weight.
Brown Rudnick’s Digital Commerce practice operates out of Boston and Washington, DC. Under Stephen Palley’s leadership, they built a robust crypto practice through strategic hires. They’ve been instrumental in landmark DAO rulings and achieved full recovery for BlockFi creditors. That BlockFi outcome surprised a lot of people—creditors getting everything back in a crypto bankruptcy isn’t common.
Amanda Tuminelli serves as Executive Director and CLO of the DeFi Education Fund. She’s led successful legal challenges against patents that threatened core DeFi protocols. Her work in pre-enforcement strategy positioned her as a key figure protecting decentralized finance from restrictive intellectual property claims. Patents can kill innovation faster than regulation sometimes, and she’s been fighting that battle.
Marisa Tashman Coppel, as Senior Product Counsel at Phantom, led an industry challenge against the SEC’s Dealer Rule. Her efforts framing constitutional arguments gave crypto firms crucial support while navigating regulatory landscapes. The Dealer Rule would’ve forced a lot of projects to register in ways that don’t make sense for decentralized protocols.
Cleary Gottlieb defended Ripple executives Garlinghouse and Larsen in a parallel case against the SEC. That defense carries substantial legal ramifications beyond just those two individuals. If executives face personal liability for token sales their companies conducted, that changes the risk calculation for everyone running a crypto business.
The BeInCrypto Research Division compiled this list for the BIC 100 Institutional Awards. Rankings consider the impact and significance of legal work in digital assets, drawing from tier assignments, case outcomes, and strategic significance as of April 2026. It’s not just about winning cases—it’s about which cases mattered and which lawyers shaped the industry’s direction.
Brown Rudnick delivered significant rulings in DAO cases that set precedents for how decentralized organizations get treated legally. Are they partnerships? Unincorporated associations? The answers matter for tax treatment, liability, and governance. Their work under Palley’s leadership positioned them as a key player driving critical legal outcomes and influencing broader regulatory narratives.
Amanda Tuminelli’s strategic initiatives at the DeFi Education Fund have been crucial in safeguarding decentralized finance from restrictive intellectual property claims. Her focus on challenging patents that could hinder DeFi protocol development ensures the continued evolution and protection of this sector. Without that work, core DeFi building blocks might be locked up behind patent claims, stifling innovation across the board.
Frequently Asked Questions
What role did Sullivan & Cromwell play in the FTX bankruptcy?
Sullivan & Cromwell served as lead counsel in the FTX bankruptcy, managing the most complex crypto bankruptcy case to date and earning over $180 million in approved fees.
How did Paul Grewal impact crypto regulation?
Paul Grewal led Coinbase’s successful legal defense against the SEC, securing a significant victory that influenced regulatory strategies across the industry and made him a prominent voice in regulatory debates.
Which firm is ranked Band 1 in both core crypto legal categories?
Davis Polk & Wardwell holds the unique position as the only firm ranked Band 1 across both core crypto legal categories, benefiting from deep regulatory connections and expertise in both enforcement and transactional work.
