Crypto prices are plummeting, but Big Law isn't rushing for the exits. Far from it.

Many of the country's biggest law firms have thrown themselves head first into the cryptocurrency world, with some even establishing specialized crypto practice groups.

Bloomberg Law reporter Sam Skolnik says the reasons are clear: a confusing regulatory environment combined with crypto companies now flush with enough funds to be able to afford Big Law representation.

On this episode of our weekly podcast, On The Merits, Sam talks about which firms are most active in crypto and why Big Law is bullish on the industry's future.

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