Former Alameda Research CEO chose a former SEC employee in the FTX investigation.
Sam Bankman-Fried, founder and former CEO of FTX, blamed Alameda in several interviews with the media. By contrast, Alameda’s former CEO, Caroline Ellison, has so far remained quiet, fueling speculation that she may be seeking a co-operation deal with authorities. Ellison has hired a former SEC official who has overseen many of the SEC’s biggest crypto lawsuits in the past, according to a newly reported report.
Alameda’s Former CEO Takes Action
Former Alameda Research CEO Caroline Ellison has made her choice of attorney in the federal investigation into the catastrophic collapse of cryptocurrency exchange FTX. She hired a former SEC official who oversees many of the SEC’s major crypto cases as her attorney.
According to people familiar with the matter, Stephanie Avakian, former chief of enforcement for the US Securities and Exchange Commission (SEC), represents Ellison along with other attorneys at her firm, WilmerHale.
Alameda was FTX’s Hong Kong-based sister trading company. FTX’s bankruptcy team, Congress, regulators, and Manhattan prosecutors are investigating allegations that Alameda has traded billions of dollars in client funds in the stock market.
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