🚀 Crypto News: FTX Files for Approval of a Settlement with Caroline Ellison, Former CEO of Alameda Research. She Will Transfer Nearly All of Her Remaining Assets to FTX Creditors. 📉

đŸ”č The filing, dated Oct. 7, asks the court to approve the settlement with Ellison, who has agreed to transfer assets that are not subject to government seizure or legal fees. đŸ”č Ellison will have no assets beyond some physical personal property. đŸ”č She will cooperate with FTX’s investigations and lawsuits, possibly sharing documents or knowledge from her time at Alameda.

FTX argues that the settlement is preferable to continuing litigation because it will recover nearly all of her assets and gain Ellison’s cooperation.

đŸ”č FTX sues Ellison, Bankman-Fried, and other directors in July 2023, seeking $22.5 million in compensation from February 2022 and $6.3 million from 2021.

đŸ”č A hearing on the settlement is scheduled for November 20.

Ellison cooperated with federal prosecutors in the case against Bankman-Fried, receiving a sentence reduced to two years on September 24.

💬 What do you think of the settlement? Share your thoughts in the comments!#CryptoNews#FTX #Blockchain