After nearly a year in federal custody, Caroline Ellison — the former co-CEO of Alameda Research — is scheduled to be released on Wednesday.
Ellison, 31, is set to leave a “residential reentry management” facility in New York on Wednesday, according to the Federal Bureau of Prisons website. Often referred to as halfway houses, the facilities help inmates who are about to be released with finding jobs, managing finances, and other services.
Ellison had been in community confinement since October 2025 after being transferred from a federal prison in Connecticut, Business Insider reported in December. She began her two-year prison sentence in November 2024 in Connecticut.
Ellison led Alameda Research, the trading firm later found to have far closer ties to crypto exchange FTX than previously disclosed. Ellison is also the ex-girlfriend of former FTX CEO Sam Bankman-Fried, who founded both FTX and Alameda Research.
FTX collapsed in November 2022 after filing for bankruptcy following a liquidity crisis and fraud allegations.
Ellison pled guilty the following month, in December 2022, to two counts of conspiracy to commit wire fraud, two counts of actual wire fraud, one count of conspiracy to commit commodities fraud, one count of conspiracy to commit securities fraud, and one count of conspiracy to commit money laundering.
Ellison cooperated with the government and testified against Bankman-Fried during his criminal trial in 2023. She told the court that Bankman-Fried directed her to commit the crimes that led to the exchange’s downfall. Ellison said Alameda had access to customer deposits through an unlimited line of credit and also had direct access to customer deposits that were sent to Alameda’s bank account known as “fiat@“.
Bankman-Fried was sentenced to nearly 25 years in prison in March and ordered to pay back up to $11 billion in investor and lender losses. In recent months, Bankman-Fried has been angling for a presidential pardon.
Former FTX Chief Technology Officer Gary Wang and FTX’s former co-lead engineer Nishad Singh were also criminally charged, but cooperated with authorities and were given no prison time. Last month, the Securities and Exchange Commission said it was seeking to bar all three — Ellison, Wang, and Singh — from being officers or directors of any public company for several years.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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