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FTX co-founder and ex-chief of hedge fund Alameda Research each pleaded guilty to multiple charges, are cooperating with feds | CNN Business

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Two executives associated with failed crypto exchange FTX pleaded guilty to criminal charges, are cooperating with prosecutors, court records show

Gary Wang, the co-founder of FTX, and Caroline Ellison, who served as CEO of the hedge fund Alameda Research, pleaded guilty to multiple counts of conspiracy and fraud for their roles in the fraud scheme that led to the collapse of the crypto-trading platform. Damian Williams, the US attorney for the Southern District of New York, announced the charges in a video message Wednesday night.

Prosecutors and his attorneys have been in discussions about a bail package that would allow him to avoid detention, people familiar with the matter told CNN. Wang cofounded FTX with Bankman-Fried in 2019 and also worked with him at his hedge fund Alameda Research. Ellison became CEO of Alameda in October 2021, according to court filings. Prosecutors allege Bankman-Fried engaged in multiple fraudulent schemes.

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Former FTX co-founder and ex-chief of hedge fund Alameda Research each pleaded guilty to multiple charges, are cooperating with feds | CNN BusinessTwo senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. MSM darlings are falling quickly Good. Trump next.
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