One of the key witnesses on the ongoing FTX investigation could evade all the seven counts of allegations against her with a plea deal. Former Alameda Research CEO Caroline Ellison would be prosecuted only for criminal tax violations and can be released immediately by paying the $250,000 bail. 

U.S. Securities and Exchange Commission (SEC) on Wednesday charged the Former CEO of Alameda Research and former CTO of FTX, Zixiao Wang for their roles in a marathon defraud scheme. However, Ripple’s General Counsel has claimed that the SEC has lost the plot line in the Sam Bankman-Fried (SBF) led collapse in the crypto market.

Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have plead guilty to criminal charges, U.S. Attorney for the Southern District of New York Damian Williams announced.

Bankrupt firm Alameda Research,  the trading arm of the FTX exchange, has been receiving persistent transfers from Panama-based cryptocurrency derivatives exchange Deribit since December 10. Deribit had begun sending 2,000 ETH to Alameda in a series of five even transactions a month after FTX and Alameda filed for bankruptcy.

Tether restated that it had absolutely no credit towards FTX or Alameda Research. No special deal whatsoever was established between FTX/Alameda and Tether.

Court filings against alleged crypto fraudster Sam Bankman-Fried are shedding more light on the cozy relationship that burned down his empire: the one between crypto exchange FTX and its sister hedge fund Alameda Research.

In an ongoing Congressional hearing, FTX’s newly appointed chief executive <a href="https://coingape.com/ftx-ceo-john-j-ray-blasts-sbf-ahead-ftx-tomorrows-congressional-hearing/">John Ray III</a> told the panel that Sam FTX founder Sam Bankman-Fried “should have known” his actions and conflict of interest between the corporate relationship between the FTX crypto exchange and its trading arm <a href="https://coingape.com/tag/alameda-research/">Alameda Research</a> would result in the empire’s final collapse.

Alameda invested in two Chinese media outlets Odaily($5 million) and BlockBeats($3.56 million), Trustless Media($1.2 Million), and Dune Analytics($625K).

CEO of The Block resigned immediately after his $43 million in personal loans from Alameda Research was disclosed.

According to The Block, McCaffrey received three loans for a total of $43 million from 2021 through this year. The first loan was for $12 million in 2021 to buy out other investors in the media company, at which time McCaffrey took over as CEO. The second was for $15 million in January to fund day-to-day operations, and the third was for $16 million earlier this year for McCaffrey to purchase personal real estate in the Bahamas, according to The Block.