All Business Lending & Fintech

Key Points

• Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, was sentenced in New York federal court in Manhattan to two years in prison and ordered to forfeit $11 billion.

• Ellison, who ran the Alameda Research hedge fund affiliated with FTX, agreed to a plea deal in December 2022, a month after the cryptocurrency exchange spiraled into bankruptcy.

• Judge Lewis Kaplan said a “literal get-out-of-jail-free card I can’t agree to” as he sentenced Ellison while praising her extensive cooperation.

www.cnbc.com

Caroline Ellison, who headed a hedge fund affiliated with doomed crypto exchange FTX, testified against her former boyfriend Sam Bankman-Fried at trial.