Caroline Ellison, the former CEO of Alameda Research, is scheduled to be released from federal custody after serving 440 days of a two-year sentence.
Ellison is scheduled to be released from the Residential Reentry Management field office in New York on Wednesday, more than a year after reporting to a prison in Danbury, Connecticut, according to Federal Bureau of Prisons inmate records.
The former Alameda CEO was one of three executives linked to now-defunct cryptocurrency exchange FTX who were in prison, along with former FTX CEO Sam “SBF” Bankman-Fried and former FTX Digital Markets co-CEO Ryan Salame.
Following the collapse of cryptocurrency exchange FTX in November 2022 amid reports of liquidity problems, Ellison, Bankman-Fried, Salame and executives Gary Wang and Nishad Singh were indicted on fraud and money laundering charges. Alameda’s CEO testified against Bankman-Fried at trial and accepted a plea deal for her cooperation, resulting in a two-year prison sentence.
Initially, Ellison was scheduled to be released in February, which was still well under her two-year sentence. However, many federal prisoners qualify for good behavior credits. She was also apparently allowed to move to a re-entry facility in October, where she spent her final months in custody in New York.
Cointelegraph reached out to Ellison’s legal team, but a representative declined to comment.
Other FTX executives are still in prison or in legal trouble
Bankman-Fried, who was convicted of seven crimes related to his role in the misappropriation of FTX users’ funds, was sentenced to 25 years in prison and is scheduled for release in 2044. Singh and Wang were each sentenced to time served and released, while Salame is scheduled to be released in 2030.
Related: Trump ruled out pardoning Sam Bankman-Fried in his NYT interview
Bankman-Fried has appealed the verdict and sentence and is awaiting results in the U.S. Court of Appeals for the Second Circuit after a Nov. 4 hearing.
Ellison and other former executives are prohibited from accepting any management positions at a cryptocurrency exchange or other company after obtaining approval from the U.S. Securities and Exchange Commission. She has given no indication that she plans to resume any position in the cryptocurrency industry.
Ellison was banned from serving as an officer and director for 10 years, while Wang and Singh were each banned for eight years.
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