Alameda Research CEO Caroline Ellison Will Get No Prison Time, Polymarket Betters Predict
Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.
Polymarket betters are predicting that former Alameda Research CEO Caroline Ellison will receive no prison time for her role in the FTX scandal ahead of her September 24 sentencing.
According to the official poll, 43% of Polymartkets predicted the ex-girlfriend of Sam Bankman-Fried would not see jail time as of Monday afternoon.
Meanwhile, 19% and 28% predicted that Ellison would be sentenced anywhere from 1-11 months and 12-23 months, respectively.
FTX's Caroline Ellison won't serve prison time according to PolyMarket Predictions!
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The one-time Alameda Research CEO pled guilty to fraud and money laundering charges in December 2022 for participating in Bankman-Fried’s massive digital asset scam, which saw $8 billion of FTX investor funds misappropriated.
As part of her cooperation deal with the U.S. government, Ellison testified against the former “king of crypto” as the prosecution’s star witness in SBF’s whirlwind fall 2023 fraud trial that saw him sentenced to 25 years in federal prison and ordered to pay a forfeiture of over $11 billion for orchestrating the crypto scheme.
Bankman-Fried attempted to discredit Ellison’s testimony by releasing several pages of her private diary to The New York Times. The diary chronicled the ex-crypto executive’s feelings of overwhelm leading up to FTX’s collapse in November 2022.
As a result, the crypto exchange founder’s bail was removed before his trial.
At the same time, a recent letter from the U.S. government recommending a lenient
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