Former Alameda Research co-CEO Sam Trabucco has agreed to forfeit millions of dollars in assets for his alleged role in the 2022 collapse of crypto exchange FTX.
Trabucco is giving up two San Francisco apartments, a 50-foot yacht and rights to accounts receivable claims filed against FTX worth $70,000,000, Bloomberg reports.
Trabucco, known for his sophisticated and often risky trading strategies, stopped posting on social media after the collapse of FTX and has since disappeared from the public eye.
Alameda Research was the trading arm of FTX and the financial relationship between the two entities proved questionable and likely played a role in the exchange’s demise in late 2022.
Caroline Ellison, the co-CEO of Trabucco, is about to receive a two-year prison sentence after pleading guilty to helping former FTX CEO Sam Bankman-Fried mismanage billions in customer funds.
As Judge Kaplan stated before handing down her sentence:
“I have seen many collaborators. I’ve never seen anyone like Mrs. Ellison. What she said on the witness stand was very self-incriminating, and she made no bones about it.”
Bankman-Fried is currently serving a 25-year prison sentence, while former co-CEO of FTX Digital Markets Ryan Salame is serving a 7.5-year sentence.
FTX co-founder and former CTO Gary Wang is reportedly working with US authorities and helping the government develop tools to track illegal activity on crypto exchanges. His lawyers are still fighting to avoid jail time.
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