Former Alameda CEO confirms firm borrowed billions from FTX customer deposits as part of plea deal By Cointelegraph

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Former Alameda CEO confirms firm borrowed billions from FTX customer deposits as part of plea deal

Cryptocurrency Dec 25, 2022 05:40PM ET

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Former Alameda CEO confirms firm borrowed billions from FTX customer deposits as part of plea deal

Caroline Ellison, the former CEO of Alameda Research, said as part of her plea deal that she was aware FTX funds had been made available for the venture capital firm’s investments.

In a transcript of proceedings for her plea deal in the Southern District of New York released on Dec. 23, Ellison acknowledged the financial ties between FTX and Alameda at the center of prosecutors’ case against former FTX CEO Sam Bankman-Fried. According to the former Alameda CEO, Alameda had access to a “borrowing facility” through FTX from 2019 to 2022.

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