Caroline Ellison Begins Prison Sentence Amidst Fallout from FTX Collapse
Ex-Alameda CEO set to serve two-year term in prison
Caroline Ellison, the former CEO of Alameda Research, reported to prison on November 7 to begin her two-year sentence for her involvement in the criminal activities tied to cryptocurrency exchange FTX. While the Federal Bureau of Prisons has yet to show Ellison in custody, her inmate details, including age and gender, are already available online.
Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York handed down Ellison’s sentence on September 24. Ellison is expected to surrender to a minimum-security facility near Boston and may serve her time at the Federal Correctional Institution in Danbury, Connecticut, known for housing both male and female inmates.
Ellison’s imprisonment follows the convictions of other key figures in the FTX saga. Former FTX CEO Sam Bankman-Fried has been found guilty, while ex-FTX Digital Markets co-CEO Ryan Salame pleaded guilty. Nishad Singh, the former engineering director at FTX, was sentenced to time served in October.
The former Alameda CEO’s troubles began in 2022, following the dramatic collapse of FTX. Ellison admitted to multiple charges, including wire fraud and money laundering, linked to the misappropriation of funds between FTX and Alameda. Her cooperation in the case included testifying against Bankman-Fried during his 2023 trial, where she revealed intricate details of the crimes.
Public interest in Ellison’s case has been intense. According to a government memo, she faced relentless online and in-person harassment, with her court appearances drawing significant media and public attention. Gary Wang, co-founder of FTX, is set to be sentenced on November 20 and has requested a sentence of time served following his guilty plea and testimony.