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Law Firm

Sullivan & Cromwell

Premier securities and M&A counsel for high-stakes crypto transactions

New York, USAEst. 18792,000+ lawyers, 20 offices
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Quick Facts

Best For
High-stakes enforcement defence, major M&A, and institutional-grade transaction work
Pricing
Top-tier BigLaw rates

Overview

Sullivan & Cromwell brings elite securities and M&A expertise to the crypto market, making it the go-to firm when major financial institutions transact in digital assets or when the stakes are too high for anything but the best. The firm's crypto practice is led by C. Andrew Gerlach, one of the US's leading securities experts, and has been involved in the most significant crypto legal matters of the past decade including the SEC's case against Ripple Labs and Coinbase. S&C's strength lies in complex transactions, regulatory enforcement defence, and matters where TradFi and crypto intersect at the highest level.

Focus Areas

Securities Enforcement DefenceCrypto M&A & Joint VenturesRegulatory InvestigationsDigital Asset Securities OfferingsExchange TransactionsInstitutional Digital Asset Products

Who They Work With

Major Financial InstitutionsCrypto ExchangesInstitutional InvestorsSovereign FundsMajor Token Projects in Enforcement Matters

Notable Work

Counsel in SEC vs Ripple; major exchange and institutional digital asset transaction advisory.

Key Contacts

  • C. Andrew Gerlach

Office Locations

LondonFrankfurtTokyoHong Kong

Frequently Asked Questions about Sullivan & Cromwell

What types of crypto matters does Sullivan & Cromwell handle?
Sullivan & Cromwell is focused on the highest-stakes end of the crypto legal market — securities enforcement defence (including SEC and CFTC matters), major M&A and joint ventures involving digital assets, regulatory investigations, institutional digital asset product structuring, and exchange transactions. The firm was counsel in SEC vs Ripple and has advised in some of the most consequential institutional crypto transactions of the past decade.
Is Sullivan & Cromwell appropriate for early-stage crypto projects?
Sullivan & Cromwell is generally not the right fit for early-stage projects. The firm operates at the very top tier of the market — in terms of both fees and matter complexity — and is optimised for high-stakes enforcement matters, major M&A, and institutional mandates where the scale justifies top-tier BigLaw costs. Early-stage founders would typically be better served by more founder-friendly practices such as Perkins Coie.
Who is the key crypto partner at Sullivan & Cromwell?
C. Andrew Gerlach is the firm's leading digital assets partner, widely regarded as one of the US's foremost crypto securities law experts. His involvement in the SEC vs Ripple matter and other landmark crypto regulatory cases has made him the go-to practitioner for matters where securities law expertise is mission-critical.
What jurisdictions does Sullivan & Cromwell cover for crypto?
Sullivan & Cromwell is headquartered in New York with major offices in London, Frankfurt, Tokyo, and Hong Kong — giving it global reach for the cross-border institutional matters it typically handles. The firm's strength is strongest in the US and key financial centres, making it particularly well-suited for matters at the intersection of US securities law and international digital asset markets.
How do I approach Sullivan & Cromwell for a crypto mandate?
Given the firm's focus on high-stakes, institutional-grade mandates, direct outreach to C. Andrew Gerlach's team through the firm's website or via referral from existing clients is the appropriate route. Warm introductions from financial institutions or other major crypto businesses are the most effective path to engagement.
What does it cost to hire Sullivan & Cromwell?
Sullivan & Cromwell charges top-tier BigLaw rates — among the highest in the US legal market. Specific figures are not published, but partner rates at elite New York firms typically exceed $2,000/hour. For the enforcement matters and major transactions the firm handles, total engagement costs routinely reach seven figures.

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