Former Alameda Research CEO to be sentenced on Sept. 24

Former Alameda Research CEO Caroline Ellison is set to be sentenced on September 24, following her guilty plea to multiple felony charges related to the collapse of the cryptocurrency exchange FTX (CRYPTO:FTT).

Her legal team has requested a lenient sentence, citing her significant cooperation with U.S. authorities as a key factor.

The filing submitted to the United States District Court for the Southern District of New York includes letters from friends, family, and colleagues, all advocating for time served and highlighting her contributions to the investigation.

Ellison’s lawyers argue that her cooperation has been "extraordinary" and that she poses no risk of reoffending.

They have recommended a sentence of time served, followed by three years of supervised release, believing that a non-custodial sentence would be appropriate given her acceptance of responsibility and early cooperation in the case.

The filing also details her personal challenges since the collapse of FTX, including over 700 hours of volunteer work due to difficulties in finding paid employment.

Ellison played a crucial role in the prosecution’s case against former FTX CEO Sam Bankman-Fried, testifying about fraudulent balance sheets and the misuse of FTX user funds by Alameda Research.

Despite her cooperation, it remains uncertain whether Judge Lewis Kaplan will impose prison time.

If given the maximum sentence, Ellison could face up to 110 years, though experts consider this unlikely.

Other FTX executives who have pleaded guilty, including Gary Wang and Nishad Singh, are also awaiting sentencing later this year.

At press time, the FTX Token (FTT) price is $1.30.