Title: Caroline Ellison begins serving two-year prison sentence in Connecticut for her role in the collapse of FTX URL Source: https://www.theblock.co/post/325085/caroline-ellison-begins-serving-two-year-prison-sentence-in-connecticut-for-her-role-in-the-collapse-of-ftx Published Time: 2024-11-07T14:05:38-05:00 Markdown Content: [Discover the institutional crypto exchange LMAX Digital through high-level info and live data here.](https://www.theblock.co/lmax) ✕ [Institutional crypto intel Explore](https://www.theblock.pro/) [](https://www.theblock.co/) [Try it free](https://www.theblock.co/campus?modal=marketing) [](https://www.theblock.co/) [News](https://www.theblock.co/news) [Data](https://www.theblock.co/data/crypto-markets/spot) [Research](https://www.theblock.co/research) [Prices](https://www.theblock.co/prices) [Learn](https://www.theblock.co/learn) [Treasuries](https://www.theblock.co/treasuries) [Ratings](https://www.theblock.co/ratings) [Elections Hub](https://www.theblock.co/elections) NEW [![Image 1: price ticker sponsor logo](blob:http://localhost/ebc2039086d8ccf925bde8abce7a91ea)](https://www.lmaxdigital.com/overview/?utm_source=the_block&utm_medium=banner&utm_content=data_ribbon&utm_campaign=lmax_digital_brand)[BTCUSD$62,556.00-0.23% ETHUSD$1,762.28-0.13% SOLUSD$81.37-1.52% PYTHUSD$0.0379-3.06% LINKUSD$7.91-0.87%](https://www.lmaxdigital.com/overview/?utm_source=the_block&utm_medium=banner&utm_content=data_ribbon&utm_campaign=lmax_digital_brand) ## [Latest Crypto News](https://www.theblock.co/news) ## [CryptoQuant says bitcoin and altcoin exchange deposits have spiked, indicating higher volatility ahead](https://www.theblock.co/post/407160/cryptoquant-bitcoin-ether-altcoin-exchange-deposits-volatility) Jul 03, 2026, 1:55PM EDT • [Markets](https://www.theblock.co/news/markets) ## [Samsung, Dunamu say they were listed as OUSD stablecoin consortium members without official consultation: report](https://www.theblock.co/post/407147/samsung-dunamu-say-they-were-listed-as-ousd-stablecoin-consortium-members-without-official-consultation-report) Jul 03, 2026, 10:32AM EDT • [Business](https://www.theblock.co/news/business) ## [Grvt and the Rise of Composable Onchain Wealth](https://www.theblock.co/post/407075/grvt-and-the-rise-of-composable-onchain-wealth) Jul 03, 2026, 10:32AM EDT • [DeFi](https://www.theblock.co/news/defi) ## [IMF says policy choices will determine whether tokenization strengthens or fragments the financial system](https://www.theblock.co/post/407140/imf-says-policy-choices-will-determine-whether-tokenization-strengthens-or-fragments-the-financial-system) Jul 03, 2026, 8:23AM EDT • [Macro](https://www.theblock.co/news/macro) [See More Latest Crypto News](https://www.theblock.co/news) # Caroline Ellison begins serving two-year prison sentence in Connecticut for her role in the collapse of FTX By [Sarah Wynn](https://www.theblock.co/author/sarah-wynn) [Regulation](https://www.theblock.co/news/regulation)•November 7, 2024, 2:05PM EST [![Image 2](blob:http://localhost/0a12e8f7ecafaee4c9d5ed7dbb8baaa0)Make us preferred on Google](https://www.google.com/preferences/source?q=theblock.co) Share ![Image 3: Caroline Ellison begins serving two-year prison sentence in Connecticut for her role in the collapse of FTX](https://www.tbstat.com/cdn-cgi/image/f=avif,q=50/wp/uploads/2024/09/20240917_FTX_News_4-1200x675.jpg) The Block Partner offers The Block may earn a commission if you use our partner offers, at no extra cost to you. #### Quick Take * The Federal Bureau of Prisons confirmed to The Block that Caroline Ellison is in custody at the Federal Correctional Institution Danbury. * Ellison was the co-CEO of Alameda Research, which was revealed to have closer than realized ties to FTX. ### We'd love your feedback. Take a 30-second survey to help improve The Block. Start Survey Advertisement Caroline Ellison began serving her prison sentence of two years on Thursday for her role in the collapse of crypto exchange FTX that caused customers to lose billions of dollars. The Federal Bureau of Prisons confirmed to The Block that Ellison is in custody at the Federal Correctional Institution Danbury — a low security prison in Connecticut that has 1,252 people in custody, according to its website. Ellison was the co-CEO of Alameda Research, which was revealed to have closer than realized ties to FTX. Ellison is also the ex-girlfriend of former FTX CEO Sam Bankman-Fried. Bankman-Fried founded both FTX and Alameda Research. Ellison[pled guilty](https://www.theblock.co/post/197573/ellison-and-wang-guilty-pleas-unsealed-as-bankman-fried-granted-bail)in December 2022 to two counts of conspiracy to commit wire fraud, two counts of actual wire fraud, one count of conspiracy to commit commodities fraud, one count of conspiracy to commit securities fraud and one count of conspiracy to commit money laundering. As part of her sentencing in September, Ellison agreed to forfeit about $11 billion. Ellison also addressed the court at the time and said she wanted to apologize to those who lost money because of her actions. She said “not a day goes by that I don’t think about all of the people I hurt,” according to reporting from[Bloomberg](https://www.bloomberg.com/news/live-blog/2024-09-24/caroline-ellison-sentencing?cmpid=socialflow-twitter-business&utm_content=crypto&utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter). [![Image 4: Polymarket Fundamentals: Prediction Markets 101](https://www.tbstat.com/cdn-cgi/image/f=avif,q=80/wp/uploads/2026/06/polymarket-sponsored-course-cover-scaled.png) 15 min course Campus Sponsored ### Polymarket Fundamentals: Prediction Markets 101 POLYMARKET](https://www.theblock.co/learn/sponsored-courses/650ab2b6-36f4-42f4-b67c-a0721bb7a217) Ellison cooperated with the government and[testified](https://www.theblock.co/post/255732/caroline-ellison-tells-court-that-sbf-directed-her-to-commit-crimes)against Bankman-Fried during his criminal trial earlier this year. Ellison told the court in March that Bankman-Fried directed her to commit the crimes that led to the exchange's downfall. Ellison said Alameda had access to customer deposits through an unlimited line of credit and also had direct access to customer deposits that were sent to Alameda's bank account known as "[fiat@](https://www.theblock.co/post/254855/inside-the-courtroom-why-fiat-will-be-key-to-the-sbf-trial)". Bankman-Fried was ultimately[sentenced](https://www.theblock.co/post/285465/ftx-founder-sam-bankman-fried-to-serve-up-to-24-25-years-in-prison)to nearly 25 years in prison in March and ordered to pay back up to $11 billion in investor and lender losses. Other former FTX executives have been sentenced over the past year. Nishad Singh, FTX's former engineering director, was given[no prison time](https://www.theblock.co/post/323780/former-ftx-exec-nishad-singh-avoids-prison-time-after-cooperating-with-authorities-in-crypto-exchange-collapse-reports)but three years of supervised release last month after pleading guilty and cooperating with authorities. Former co-CEO of FTX Digital Markets Ryan Salame began his[prison](https://www.theblock.co/post/320749/former-ftx-executive-ryan-salame-begins-his-seven-and-a-half-year-prison-sentence)sentence of seven and a half years last month. FTX co-founder Gary Wang is set to be sentenced on Nov. 20. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in [other companies](https://www.foresightventures.com/portfolio) in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current [financial disclosures](https://www.theblock.co/financial-disclosures). © 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. 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