Key Highlights:
- Caroline Ellison gets two years for her involvement in FTX’s collapse, after cooperating with prosecutors and testifying against Sam Bankman-Fried.
- Ellison’s testimony detailed how Alameda had access to FTX customer deposits, which fueled their risky bets, and ultimately, their undoing.
Yello Paradisers! Caroline Ellison, former CEO of Alameda Research and ex-girlfriend of Sam Bankman-Fried, just got slapped with a two-year sentence for her role in the FTX collapse, but this might be just the tip of the iceberg.
If you thought the drama was over, think again Paradisers, her testimony could be the nail in SBF’s coffin, and the crypto world is buzzing with what comes next.
Ellison Sentenced, Testifies Against Bankman-Fried
Ellison’s guilty plea to fraud, conspiracy, and money laundering in December 2022 sent shockwaves through the crypto world. But what’s really lighting up headlines is her testimony, she told the court that SBF was the mastermind, directing her to commit the very crimes that led to FTX’s epic downfall. From unlimited credit lines to cooked balance sheets, Ellison laid it all out, claiming she was just following orders.
With SBF already serving 25 years, Ellison’s cooperation may have lightened her sentence, but don’t let that fool you. The collapse of FTX cost investors billions, and her role in the scandal has forever changed the crypto landscape. Could this be the final chapter in the FTX saga? Or just the beginning of even more bombshells? Time will tell.
