Caroline Ellison Sentenced, Forfeits $11B

Alpha Team
September 25, 2024

⚖️ Caroline Ellison Sentenced for Role in FTX Collapse

Two-year prison sentence: Former Alameda Research co-CEO Caroline Ellison was sentenced to two years for her role in FTX’s collapse, leading to billions in losses. She pled guilty to fraud-related charges in Dec 2022 and admitted to hiding Alameda's risks.

Forfeiting $11 billion: Besides prison, Ellison will forfeit $11 billion. She apologized in court, reflecting on the harm caused. Her cooperation against Sam Bankman-Fried included revealing how Alameda misused customer funds for its benefit.

Cooperation led to leniency: Judge Kaplan, noting her cooperation, gave a lighter sentence than Bankman-Fried's 25 years. Legal experts suggest this encourages future cooperation in investigations. Her testimony was critical to the prosecution. Read More.

️ On today's Top Picks:

🏛️ TrueCoin & TrustToken settle with US SEC.
🪂 WalletConnect opens registration for $WCT Airdrop.
🚀 Visa $V launches Tokenized Asset Platform.
💰 Initia raises $14m Series A funding led by Theory Ventures.

Read time: ⏰ 5 minutes

Crypto News

• ⭐️ Former Alameda CEO Caroline Ellison sentenced to two years for her role in FTX collapse.

• ⭐️ TrueCoin & TrustToken settle with US SEC; did not admit or deny the SEC's allegations but will each pay a penalty.

• US SEC postpones decision on BlackRock & Bitwise spot Ethereum ETF options.

• BNY plans crypto ETF custody services after US SEC review.

• PayPal $PYUSD enables US businesses to buy & sell crypto.

• Binance launches Binance Pre-Market; enables users to trade or acquire tokens before spot listing.

• Kraken acquires Coin Meester B.V. (BCM) as a part of its European growth strategy.

Alpha

• BOB launches Fusion Season 3; last chance to harvest Spice points.

• RISE Chain launches The Gigagas Era Begins quest on Galxe.

• Forma to launch The Master of Mountains NFT mint on Highlight.

• ICYMI Allora Network by Earndrop.

Airdrops

• Anzen Airdrop Strategy by Earndrop.

• EigenLayer reopens social verification for $EIGEN Community Stakedrop.

• Swell launches EigenLayer $EIGEN Season 2 StakeDrop claim.

• EtherFi launches EigenLayer $EIGEN Season 2 StakeDrop claim & Season 3 $ETHFI claim.

• ⭐️ WalletConnect opens registration for Connect Token $WCT Airdrop.

• Grass Foundation reminds users to connect their Solana wallet before September 30th.

• LogX launches $LOGX Airdrop claim.

• Pencils Protocol launches $DAPP Airdrop claim.

Finance News

• ⭐️ Visa $V launches Tokenized Asset Platform to assist banks in testing tokenized assets & smart contracts.

• OpenAI to remove non-profit board control & give Sam Altman equity.

• Google $GOOG Cloud accuses Microsoft $MSFT of anticompetitive licensing practices; files complaint with the European Commission.

• US DOJ to sue Visa $V over alleged debit card market monopoly.

• Berkshire sells more Bank of America $BAC shares; $9b worth since July.

Security and Exploits

• WazirX Hacker has laundered ~$224m of stolen funds through Tornado Cash; $6m left.

• Truflation hacked for ~$5m of $TRUE due to treasury multisig compromise.

• Banana Gun recaps bot incident; 11 users drained for ~$3m due to Telegram message oracle vulnerability.

Token Unlocks

• Galxe / 416.67 $GAL / ~$1m / SEP 24
• Venom / 235.36m $VENOM / ~$26m / SEP 25
• Yield Guild Games / 14.08m $YGG / ~$6m / SEP 27
• SingularityNET / 8.19m $AGIX / ~$6m / SEP 28
• Ethena / 14.89m $ENA / ~$4m / SEP 29
• Optimism / 31.34m $OP / ~$53m / SEP 30
• Manta Network / 1.87m $MANTA / ~$2m / SEP 30

Funding

• ⭐️ Initia raises $14m in Series A funding led by Theory Ventures.

• Gunzilla Games raises $6m in funding from Delphi Ventures.

• Daylight raises $6m in funding led by Union Square Ventures & 1kx,

• Smolbound raises $6m in Seed funding led by BITKRAFT Ventures.

• Meridian raises $4m in Seed funding led by ParaFi Capital & Borderless Capital.

• EarthFast raises $1.4m in Pre-Seed funding led by The General Partnership & Nascent.

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PROTOCOL	ASSETS	APY
Pendle (Ethereum)	SUSDE(KARAK)	50.76%
Extra Finance (Base)	DOLAUSDC	28.34%
Merkl (Ethereum)	USDCDYAD	25.83%
Curve DEX (Ethereum)	IDAIIUSDCIUSDT	25.63%
Aerodrome V1 (Base)	DOLAUSDC	24.96%
Notional V3 (Ethereum)	NUSDC	23.57%
MIM Swap (Arbitrum)	MIMUSDC	22.36%
Anzen V2 (Ethereum)	SUSDZ	21.29%

. . .

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