According to a late Tuesday filing from her lawyers, Caroline Ellison, the former CEO of Alameda Research, should be sentenced to time served and supervised release.

The request comes ahead of her scheduled sentencing on September 24, 2024, for her involvement in the collapse of the cryptocurrency exchange FTX.

Extraordinary Cooperation

In the Tuesday filing, her legal team emphasized Ellison’s “extraordinary cooperation with the government,” which they say justifies leniency in sentencing. They also referenced a presentence report from the Probation Department that recommends three years of supervised release and no fines.

“[Ellison] poses no risk of recidivism and presents no threat to public safety. It would, therefore, promote respect for the law to grant leniency in recognition of [Ellison’s] early disclosure of the crimes, her unmitigated acceptance of responsibility for them, and – most importantly – her extensive cooperation with the government,” stated the filing.

John J. Ray III, the CEO overseeing the FTX bankruptcy proceedings, highlighted her ‘valuable’ role in assisting his team as they worked to take control of the failing exchange.

Ray’s submission indicated that the FTX bankruptcy estate was nearing a settlement with Ellison, under which she would forfeit nearly all of her remaining assets and continue to support efforts to restructure the exchange and its affiliated entities.

Attorneys leading class action lawsuits against former FTX executives have also credited her with providing essential assistance in recovering funds for the exchange’s creditors. Robert Cleary, a court-appointed examiner in the case, also noted that she had been helpful throughout the process.

Her attorneys supported their request with diary entries, statements about her cooperation with FTX’s bankruptcy estate, and character references from colleagues, friends, and family.

While some names in these letters have been redacted due to concerns of harassment or doxing, Inner City Press has requested a hearing to argue that they should be shown. The legal team, however, maintains that the redaction is necessary to protect the writers from potential harm.

Caroline’s Sentencing Date

Ellison, a key associate of FTX founder Sam Bankman-Fried, testified last year that he instructed her to commit fraud and conceal the financial troubles of FTX and Alameda from investors.

Her testimony contributed to Bankman-Fried’s conviction on seven counts of fraud and conspiracy. After FTX’s collapse in November 2022, she pleaded guilty and cooperated with prosecutors.

Her sentencing, set for September 24 at 3:00 p.m. EDT, will make her the third major figure in the FTX scandal to face judgment, following those for Ryan Salame and Bankman-Fried of 7.5 and 25 years, respectively.

The post Former Alameda Research CEO Caroline Ellison’s Attorneys Seek Leniency Ahead of Sentencing appeared first on CryptoPotato.

1. Understand Binance’s Trading Options
Spot trading on Binance lets you instantly buy and sell assets at current market prices. In contrast, Binance Futures allows you to speculate on price movements with leverage. Knowing when to use each option is crucial for maximizing your returns.
2. Master Binance’s Technical Tools
Take advantage of Binance’s advanced charting tools, including Moving Averages (MA), RSI, and Bollinger Bands. These indicators can help you time your trades, avoiding emotional decisions and finding the best entry/exit points.
3. Practice Risk Management on Binance
With Binance Futures, leverage can multiply both profits and losses. Always use stop-loss orders and keep your risk at 1-2% of your capital per trade. A 1:3 risk/reward ratio will help you ensure profits outpace risks.
4. Leverage Wisely on Binance
Binance offers various leverage options, but beginners should start low (2x-3x). Even experienced traders should use higher leverage with caution, only in carefully planned trades.
5. Stay Disciplined on Binance
The volatility of the crypto market can easily lead to emotional decisions. Stick to your trading plan and avoid FOMO or panic selling. Consistency and discipline are key to long-term success.
6. Stay Informed with Binance News
Keep an eye on Binance announcements, regulatory updates, and major market news. These factors can quickly impact market conditions, making it crucial to stay updated.
7. Learn from Your Binance Trades
Maintain a trading journal on Binance to track your trades and analyze your results. Continuous learning and refinement are essential for improving your strategies.
8. Diversify on Binance
Avoid putting all your capital into one asset or strategy on Binance. Diversification is key to managing risks. In Binance Futures, consider balancing long and short positions to mitigate potential losses.
Conclusion:
Success in Binance’s spot and futures trading requires a solid understanding of the market, disciplined risk management, and ongoing learning. Stick to these strategies to enhance your performance and protect your capital.

Date: 11-09-2024

Analysis of the Bitcoin/USDT Chart
This chart represents a $BTC /USDT price movement with several technical indicators over a daily timeframe. I will break down the indicators and current trends in detail to give both short-term and long-term insights and predictions. We'll also explore possible support and resistance levels, along with key technical patterns that are visible.
1. Bollinger Bands (Volatility Indicator)
The Bollinger Bands are seen with three components:Middle Band (20-period moving average): Price fluctuates around this line. When price crosses above it, it indicates a potential bullish trend, and when it crosses below, it signals a bearish trend.Upper Band and Lower Band: These represent the volatility in the market. The wider the bands, the more volatile the price movement.Current Situation:$BTC is trading below the middle band, indicating a bearish bias.The bands have started to narrow slightly, suggesting lower volatility in the short term. However, such consolidations often precede sharp breakouts.
2. Ichimoku Cloud (Trend and Momentum Indicator)
The Ichimoku Cloud is visible as the green and red shaded areas.Kumo Cloud (Resistance/Support Levels):Below the cloud: Bitcoin is currently below the cloud, which suggests a bearish trend.The cloud ahead (future) is turning green, indicating a potential bullish reversal in the mid-to-long term.Key Levels:56,180.5 USDT (red line above the price): This is a potential resistance level where Bitcoin might face selling pressure. If broken, we could see a move towards 58,637.9 USDT (stronger resistance).52,521.9 USDT: This is a potential support level below the current price, which might act as a bounce zone in case of further downward pressure.
3. MACD (Moving Average Convergence Divergence) (Momentum Indicator)
MACD Line and Signal Line:The MACD line is below the signal line, confirming a bearish crossover. This indicates negative momentum in the market.The histogram is showing increasing red bars, signaling strengthening bearish momentum in the short term.Prediction: We might see more downward movement in the short term unless the MACD lines converge, indicating a bullish reversal.
4. RSI (Relative Strength Index) (Momentum Indicator)
Current RSI Value: 42.81The RSI is below 50, indicating bearish momentum. However, it is not in the oversold territory (below 30), so there could still be room for further decline.If the RSI dips below 30, this could indicate a potential oversold condition, which may result in a reversal or bounce from lower support levels.
5.Key Support and Resistance Levels
1. Resistance Levels (Price ceilings where Bitcoin might struggle to break through)
56,180 USDT (Immediate Resistance)This level is important as it aligns with the Ichimoku Cloud's lower boundary and also near the Bollinger middle band. A break above this resistance would suggest that Bitcoin is starting to regain upward momentum.If this level is broken: It would be an early sign of a potential bullish reversal, with the next targets being 58,637 USDT and 64,753 USDT.58,637 USDT (Next Major Resistance)This is a stronger resistance level as it represents prior price highs and falls in line with the Ichimoku Cloud's upper boundary. A breach of this level would significantly increase bullish momentum.If this level is broken: It would confirm a shift in market sentiment from bearish to bullish, and the price could rally towards 64,753 USDT or even higher.64,753 USDT (Long-Term Resistance)This is a major long-term resistance level. It represents a previous price high, which many traders will likely view as a key selling point. A move above this level would signal that Bitcoin is in a strong uptrend, potentially leading to even higher targets.If this level is broken: Bitcoin could test psychological and round-number levels like 70,000 USDT, with the possibility of a new all-time high if market sentiment remains bullish.
2. Support Levels (Price floors where Bitcoin might find buying pressure)
52,521 USDT (Immediate Support)This is a critical support level near the lower Bollinger Band and is a previous consolidation zone. It may act as a bounce point for buyers if the current downtrend continues.If this level breaks: It would signal further bearish movement, and Bitcoin might test lower support at 48,000 USDT.48,000 USDT (Major Support Level)This is a psychologically important support level and has historically acted as a strong base during previous corrections. If Bitcoin reaches this level, many buyers might step in, considering it a good entry point.If this level breaks: It would indicate a prolonged bearish market, and Bitcoin could head toward 45,000 USDT or even 40,000 USDT in extreme cases.45,000 USDT and 40,000 USDT (Long-Term Support Levels)If Bitcoin breaks the 48,000 USDT level and continues its downtrend, 45,000 USDT will be the next strong support. This would be a long-term bearish target, reflecting deep corrections.40,000 USDT would likely be an extreme low target, where major institutional buying or a reversal could occur.If this level breaks: It would suggest a bearish continuation and potentially indicate a prolonged bear market phase.
6.Price Break Scenarios
1. Bullish Scenario (Resistance Breaks)
Breaking Above 56,180 USDT:If Bitcoin breaks 56,180 USDT, it would signal a shift towards bullish sentiment. This would likely attract more buyers and may push Bitcoin to test the next resistance at 58,637 USDT.This price break would suggest that the downtrend is weakening and the bulls are gaining control.Breaking Above 58,637 USDT:A break above 58,637 USDT would be a major bullish signal, confirming that Bitcoin is moving out of its current bearish phase and is poised for a strong upward rally. The next target would be 64,753 USDT, and if broken, we could expect Bitcoin to head towards the 70,000 USDT range.Long-Term Bullish Target:64,753 USDT: The key long-term bullish target. If Bitcoin breaks this level, we might see it rise toward 70,000 USDT, or even new all-time highs, if there’s sustained buying pressure.70,000 USDT or Higher: After 64,753 USDT, the next logical round-number target is 70,000 USDT, which would be a psychological level. Above this, Bitcoin might set a new all-time high depending on market conditions.
2. Bearish Scenario (Support Breaks)
Breaking Below 52,521 USDT:If Bitcoin fails to hold the 52,521 USDT support level, this would confirm that the bearish trend is continuing. Sellers could push the price toward the 48,000 USDT support.A break of this level would be considered short-term bearish, but not a confirmation of a deeper long-term downtrend yet.Breaking Below 48,000 USDT:This would signal a significant bearish shift and suggest that Bitcoin is heading towards a more extended correction.45,000 USDT would be the next key target, but a failure to hold here could lead to 40,000 USDT, which represents a long-term bearish target.Long-Term Bearish Target:45,000 USDT: A break of 48,000 USDT would open the possibility for Bitcoin to fall to 45,000 USDT, a major support level.40,000 USDT: If the 45,000 USDT support fails, 40,000 USDT becomes the long-term bearish target. At this point, we would likely see major buying activity or intervention from large market players.
7. Volume Insights
The order book shows that Bitcoin is being traded with strong resistance at 55,892 USDT, with large sell walls visible. However, the buying pressure is also evident at 55,888 USDT, creating a tight price range, signaling a potential breakout in either direction.
8. Overall Market Sentiment
The current market sentiment is bearish in the short term, but neutral to bullish in the long term as we approach key support levels.
Summary: Long-Term Targets :
Bullish Targets:58,637 USDT: Major resistance. If broken, opens the path to 64,753 USDT.64,753 USDT: Long-term bullish target. If broken, Bitcoin could rally to 70,000 USDT or higher.Bearish Targets:52,521 USDT: Key short-term support. A break could lead to 48,000 USDT.48,000 USDT: Major support. A break would signal a deeper correction toward 45,000 USDT or 40,000 USDT.Ultimately, the next key moves in Bitcoin depend on whether it can break through resistance or support levels, which will dictate whether the trend is bullish or bearish. Watch for breakouts above 56,180 USDT or breakdowns below 52,521 USDT as critical signals for future price direction.

Further Readings :

1. The Bitcoin Rainbow Chart EXPOSED : What Your Favourite Analysts WON'T Tell You .
2.ALTSEASON Gold Rush: How to Find the Hidden Gems and Avoid the Scams
3.ALTSEASON ALERT: 7 Shocking Indicators That Will Reveal When the Next Altcoin Boom Will Hit
4.Bitcoin’s Next Big Move: Crash or New ATH? MACD and RSI Give Clear Signals
5.The Shocking Truth About BTC's Hidden Connection to Gold, Stocks, and Cryptos

Disclaimer: The content of this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and may lead to substantial financial loss. Always perform your own research and consult a qualified financial advisor before making any investment decisions. The opinions expressed are solely those of the author and do not represent the views of the publisher or its affiliates. Investing in cryptocurrencies involves inherent risks, and past performance is not a reliable indicator of future results. Please exercise caution.

According to a late Tuesday filing from her lawyers, Caroline Ellison, the former CEO of Alameda Research, should be sentenced to time served and supervised release.

The request comes ahead of her scheduled sentencing on September 24, 2024, for her involvement in the collapse of the cryptocurrency exchange FTX.

Extraordinary Cooperation

In the Tuesday filing, her legal team emphasized Ellison’s “extraordinary cooperation with the government,” which they say justifies leniency in sentencing. They also referenced a presentence report from the Probation Department that recommends three years of supervised release and no fines.

“[Ellison] poses no risk of recidivism and presents no threat to public safety. It would, therefore, promote respect for the law to grant leniency in recognition of [Ellison’s] early disclosure of the crimes, her unmitigated acceptance of responsibility for them, and – most importantly – her extensive cooperation with the government,” stated the filing.

John J. Ray III, the CEO overseeing the FTX bankruptcy proceedings, highlighted her ‘valuable’ role in assisting his team as they worked to take control of the failing exchange.

Ray’s submission indicated that the FTX bankruptcy estate was nearing a settlement with Ellison, under which she would forfeit nearly all of her remaining assets and continue to support efforts to restructure the exchange and its affiliated entities.

Attorneys leading class action lawsuits against former FTX executives have also credited her with providing essential assistance in recovering funds for the exchange’s creditors. Robert Cleary, a court-appointed examiner in the case, also noted that she had been helpful throughout the process.

Her attorneys supported their request with diary entries, statements about her cooperation with FTX’s bankruptcy estate, and character references from colleagues, friends, and family.

While some names in these letters have been redacted due to concerns of harassment or doxing, Inner City Press has requested a hearing to argue that they should be shown. The legal team, however, maintains that the redaction is necessary to protect the writers from potential harm.

Caroline’s Sentencing Date

Ellison, a key associate of FTX founder Sam Bankman-Fried, testified last year that he instructed her to commit fraud and conceal the financial troubles of FTX and Alameda from investors.

Her testimony contributed to Bankman-Fried’s conviction on seven counts of fraud and conspiracy. After FTX’s collapse in November 2022, she pleaded guilty and cooperated with prosecutors.

Her sentencing, set for September 24 at 3:00 p.m. EDT, will make her the third major figure in the FTX scandal to face judgment, following those for Ryan Salame and Bankman-Fried of 7.5 and 25 years, respectively.

The post Former Alameda Research CEO Caroline Ellison’s Attorneys Seek Leniency Ahead of Sentencing appeared first on CryptoPotato.