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    First FTX-Linked Exec to be Released from Prison Today

    8okaybaby@gmail.comBy No Comments3 Mins Read
    First FTX-Linked Exec to be Released from Prison Today

    Caroline Ellison, the former CEO of Alameda Research, is scheduled for release from federal custody after serving 440 days of a two-year sentence.

    According to inmate records with the Federal Bureau of Prisons, Ellison is expected to be released from the Residential Reentry Management field office in New York City on Wednesday, more than a year after she reported to prison in Danbury, Connecticut.

    The former Alameda CEO was one of three executives linked to the defunct cryptocurrency exchange FTX to serve prison time, along with former FTX CEO Sam “SBF” Bankman-Fried and former FTX Digital Markets co-CEO Ryan Salame.

    Law, United States, Crimes, Sam Bankman-Fried, FTX
    Caroline Ellison’s X profile. Source: carolinecapital

    After cryptocurrency exchange FTX collapsed in November 2022 amid reports of liquidity issues, Ellison, Bankman-Fried, Salame and executives Gary Wang and Nishad Singh were indicted on charges of fraud and money laundering. The Alameda CEO testified against Bankman-Fried at trial and accepted a plea deal for her cooperation, leading to a two-year sentence.

    Ellison was initially scheduled to be released in February, which would still have been far short of her two-year sentence. However, many federal inmates are eligible for good-conduct credits. She was apparently also permitted to move to a reentry facility in October, serving her final months in custody in New York City.

    Cointelegraph reached out to Ellison’s legal team, but a representative declined to comment.

    Other FTX executives still in prison or legal trouble

    Bankman-Fried, who was convicted on seven felony counts related to his role in the misuse of FTX user funds, was sentenced to 25 years in prison and is scheduled for release in 2044. Singh and Wang were sentenced to time served and remain free, while Salame is scheduled for release in 2030.

    Related: Trump rules out Sam Bankman-Fried pardon in NYT interview

    Bankman-Fried appealed his conviction and sentence and is awaiting results in the US Court of Appeals for the Second Circuit following a Nov. 4 hearing.