Home Trading Former CEO of Alameda Research and former CTO at FTX plead guilty...

Former CEO of Alameda Research and former CTO at FTX plead guilty to criminal charges


Prosecutors in the case said that they would not object to bail if defendants submitted their travel documents and fulfilled other conditions.

Separately, Ellison and Gary Wang were also charged by the US Securities and Exchange Commission for their role in a multiyear scheme designed to defraud investors in crypto trading platform FTX. The Commodity Futures Trading Commission also filed fraud charges against Ellison and Wang.

Gary Gensler, SEC Chair, said:

We allege that Caroline Ellison, Sam Bankman-Fried, and others conspired to manipulate FTT’s price, an exchange crypto security to token, in order to support the value of their house.

We also allege that Mr. Wang, Ms. Ellison, and Mr. Wang were involved in a scheme using FTX customer funds to bail out Alameda and provide collateral for margin trades. FTT and other cards fell apart and Mr. Bankman Fried and Ms. Ellison left investors holding the bag.

The CFTC alleges that Wang created the features on the FTX trading platform that allowed Alameda “to maintain an essentially unlimited line of credit on FTX.”

According to the CFTC,

As further alleged, at Bankman-Fried’s…

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