Caroline Ellison, the ex-CEO of Alameda Research, has been sentenced to two years in prison for her part in the FTX fraud scandal.
She cooperated with authorities against Sam Bankman-Fried (SBF), who got 25 years, but the judge emphasized the seriousness of the fraud. Ellison admitted to misusing billions in customer deposits and despite recommendations for no prison time, the judge felt a sentence was necessary.
As she starts her prison term, SBF’s team is appealing his conviction, claiming bias and unfair trial conditions. They want a new trial with a different judge. Meanwhile, FTX is trying to repay customers, but the SEC is against using cryptocurrency for this.
In other news, FTX settled a $600 million dispute over Robinhood shares, with Emergent Technologies getting $14 million to drop their claims. The fallout from FTX’s collapse continues to shake the crypto world, affecting both the company and its key players.
