The post Caroline Ellison to Hand Over Assets in FTX Settlement Agreement appeared on BitcoinEthereumNews.com.

Caroline Ellison has agreed to hand over most of her assets to FTX debtors as part of a settlement deal. The settlement includes recovering over $30 million in bonuses and equity transfers given to Ellison. Former Alameda Research CEO Caroline Ellison has agreed to a deal whereby she will practically hand over the FTX debtors almost all of her remaining assets. This action is a component of a legal dispute resulting from the bankruptcy of once-leading crypto exchange FTX in 2022. Reached in early October 2024, the deal mandates Ellison to surrender up assets not previously taken by the government or designated for her legal defense. Former CEO of Alameda Research, Caroline Ellison has agreed to turn over all her remaining assets to #FTX debtors to settle a lawsuit filed against her by the bankruptcy estate. They seek to recover more than $30m in the form of equity & bonus payments received by Ellison! pic.twitter.com/dix9gKk2oC — Crypto Rand (@crypto_rand) October 9, 2024 Caroline Ellison Cooperation Becomes Key in FTX Efforts to Recover Funds Considered as a pivotal action in the attempts to reimburse money for FTX creditors is Ellison’s choice to follow the settlement. Initiated by the FTX bankruptcy estate, the case against her aimed to recover large amounts, including $22.5 million in incentives she got in February 2022 and an extra $6.3 million sent to her in 2021. Ellison decides to completely collaborate instead of contesting the allegations in court, therefore saving both sides the time and expenses of additional litigation. Although the precise sum of the assets being surrendered is not known, the agreement says Ellison will have very little more than some actual personal items once she satisfies the restrictions. This settlement makes sense for both sides since it lets FTX recover a good amount of what…

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Filed under: News - @ October 10, 2024 7:22 am