Attorneys have been closely watching the cryptocurrency market plummet on Sunday and into Monday as its global market cap sustained an over 9% drop within the last 24 hours.
“If history is any indication, substantial dips in the value of cryptocurrencies are likely to lead to more litigation,” said Helen Gugel, a litigation and enforcement partner at the Am Law 100 firm Ropes & Gray in New York. “The more money people lose, the more lawsuits they are likely to file to try to recover some of those losses.”
![Helen Gugel, a litigation & enforcement partner at Ropes & Gray in New York. Courtesy photo](https://images.law.com/contrib/content/uploads/sites/389/2024/08/Helen-Gugel-Vert-202408051723.jpg)