Caroline Ellison Aims to Avoid Jail by Highlighting Cooperation with FTX Investigation

Caroline Ellison, former CEO of Alameda Research, is seeking to avoid a prison sentence as her court date approaches.

Her defense team is emphasizing her cooperation with prosecutors during the investigation into the FTX collapse, which had significant repercussions for the cryptocurrency market.

Ellison’s legal team has filed documents arguing for leniency, citing her voluntary assistance after returning from the Bahamas and her collaboration with authorities.

They assert that she poses no threat to public safety and has shown genuine remorse and responsibility for her actions. The defense has also requested that personal information in support letters be kept confidential.

As sentencing approaches on September 24, Ellison’s attorneys argue for a sentence that includes time served and three years of supervised release. The Probation Department supports this recommendation.

FTX CEO John Ray has acknowledged Ellison’s role in recovering substantial assets. Despite these efforts, the fallout from the FTX disaster continues to impact the crypto industry, with some investors, like Thoma Bravo’s Orlando Bravo, vowing to stay away from crypto investments due to the significant losses incurred.