Former Alameda Research CEO Caroline Ellison would be defended by a former SEC senior crypto regulator in a federal inquiry.
A former top SEC Crypto regulator was hired by Caroline Ellison.
Avakian and a group of WilmerHale lawyers.
In an ongoing federal investigation, Caroline Ellison, the former CEO of Alameda Research, will be represented by a former senior crypto regulator at the Securities and Exchange Commission (SEC), according to a report.
Stephanie Avakian and a group of WilmerHale attorneys will represent Caroline. The law firm's Securities & Financial Services division is now chaired by Avakain. She was in charge of expanding cryptocurrency oversight at the SEC, where she worked as a director in the Enforcement Division and brought legal action against Robinhood and Ripple Lab.
According to the website of the law firm, Ms. Avakian was in charge of the Division's 1,400 professionals and employees. The SEC brought more than 3,000 enforcement actions, secured judgments and decrees totaling more than $17 billion in fines and disgorgement, and paid out around $3.6 billion to investors who had been victimised during her four years as the Division's director.
On the website for the law firm, her profile stated that under "Insider trading, financial fraud and disclosure violations, auditor and accounting concerns, market structure, asset management, and the Foreign Corrupt Practices Act were only a few of the many topics covered by Ms. Avakian's directives. Additionally, she oversaw the Enforcement Division in tackling cutting-edge market challenges like initial coin offerings, digital assets, and cybersecurity."
According to CoinGabbar, several investigations and at least seven class action lawsuits have been brought against FTX Group and its leaders. The insolvent cryptocurrency exchange and its subsidiaries are being looked at by prosecutors from the Manhattan district office of the United States attorney's office in New York and the Department of Financial Protection and Innovation in California.
Additionally, federal prosecutors are looking into whether the demise of the Terra ecosystem was caused by Sam Bankman-Fried, the former CEO of FTX. Prosecutors are looking into whether Bankman-enterprise Fried's purposefully sparked a flurry of "sell" orders on Terra's algorithmic stablecoin TerraUSD Classic as part of a larger investigation into FTX's own collapse (USTC). The majority of the USTC sell orders, according to a story from The New York Times, came from Alameda Research.
