Ex-Alameda CEO Caroline Ellison to Surrender Majority of Assets to FTX Debtors in Bankruptcy Settlement
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Caroline Ellison, the former CEO of Alameda Research, has agreed to relinquish the majority of her assets to FTX debtors as part of a settlement with the FTX bankruptcy estate.
The agreement, detailed in a court filing on Monday, aims to recover assets to benefit creditors impacted by the collapse of FTX, a major cryptocurrency exchange.
According to the filing by FTX Trading Ltd., Ellison will transfer “substantially all of her assets” to the FTX debtors.
This includes assets not already seized by the government or allocated for her legal defense.
Additionally, Ellison has pledged to cooperate fully with the FTX bankruptcy estate in both ongoing and future investigations related to the case.
FTX’s downfall began in late 2022 when the company filed for bankruptcy, leading to a legal battle to recover assets from former executives, including Ellison and FTX founder Sam Bankman-Fried.
The current litigation seeks to reclaim approximately $22.5 million in bonuses Ellison received in February 2022, along with $6.3 million transferred to her in July and September 2021.
The settlement terms indicate that Ellison will be left with only physical personal property after the asset transfer.
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