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Who are FTX co-founder Gary Wang & Caroline Ellison?

FTX co-founder Gary Wang and former Alameda Research co-CEO Caroline Ellison both pleaded guilty to federal charges in the Southern District of New York. Simultaneously, both the Commodity Futures Trading Commission and Securities and Exchange Commission released civil complaints against them.

Did Wang and Ellison misappropriate FTX customer funds for Alameda?

The complaint alleges that Wang created FTX’s software code that allowed Alameda to divert FTX customer funds, and Ellison used misappropriated FTX customer funds for Alameda’s trading activity.

Who are FTX executives pleaded guilty to?

Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night.

Did Ellison and Wang agree to plead guilty?

In letters dated Sunday, December 18, and signed the following day, Ellison and Wang agreed to plead guilty and cooperate with prosecutors.

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