Caroline Ellison is the former girlfriend of crypto wunderkind Sam Bankman-Fried who helped prosecutors unearth crimes they didn’t know about at FTX. Now she is pleading to be spared from spending a single day in prison.
Caroline Ellison was the star witness in the US government’s fraud case against the onetime crypto wunderkind Sam Bankman-Fried, helping prosecutors unearth crimes they didn’t know about at FTX.
“She regrets her role deeply and will carry shame and remorse to her grave,” according to the memo, filed in federal court in New York. Ellison was one of four former Bankman-Fried lieutenants to plead guilty following the collapse of the crypto exchange. FTX co-founder Gary Wang and former engineering chief Nishad Singh, who both testified at Bankman-Fried’s trial, will be sentenced in November and October respectively.Former FTX Digital Markets co-chief Ryan Salame was sentenced to 7 ½ years in prison for making illegal campaign donations and operating an unlicensed money transmitter.
The daughter of Massachusetts Institute of Technology economics professors, Ellison met Bankman-Fried as a summer intern at quant trading shop Jane Street in 2015. Three years later, over coffee in the San Francisco Bay Area, Bankman-Fried convinced her to join his new crypto trading firm Alameda Research, where she could make a lot of money and give it to charity.
“A lot of what stresses me out about work is specifically failing Sam, or Sam’s disapproval,” she wrote in the summer of 2020. “I get easily upset when he disagrees with me or criticises me, in a way that I don’t think I get upset if other people do the same things.”When Bankman-Fried was invited to the Met Gala in 2022, he rebuffed Ellison’s request to be his plus one, saying he didn’t want to be seen in public with her, the memo alleges.
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