A former executive at the now-bankrupt crypto exchange FTX allegedly paid herself millions of dollars in bonus payments while aware of a major cash deficit at the exchange, according to a legal filing published on Thursday.
Caroline Ellison (28) ran the crypto hedge fund Alameda Research, which was a subsidiary of FTX. She was an associate of former FTX chief executive Sam Bankman-Fried.
According to Thursday’s filing with the Bankruptcy Court for the District of Delaware, Ellison caused Alameda, “through a series of convoluted transfers,” to pay herself a bonus of $22.5 million in late March 2022. She also allegedly received further “cash bonus transfers” from Alameda and one of its subsidiaries of over $6 million.