Caroline Ellison Agrees to Give Up Assets: Big Win for FTX Creditors!

The post Caroline Ellison Agrees to Give Up Assets: Big Win for FTX Creditors! appeared first on Coinpedia Fintech News

Caroline Ellison, the former CEO of Alameda Research, has agreed to give up nearly all her assets to repay creditors of the collapsed FTX exchange. A court motion filed on October 7 asks for approval of this deal, with a hearing set for November 20. Ellison will transfer any remaining assets, not already given to the government or used for legal fees, to FTX creditors. She will also help with investigations related to the bankruptcy, possibly sharing important information from her time as head of Alameda and her relationship with FTX founder Sam Bankman-Fried. This move is a big win for creditors still recovering from the exchange’s downfall, which may speed up their repayment process.