Former top SEC crypto regulator hired by Caroline Ellison

A erstwhile apical crypto regulator successful the United States Securities and Exchange Commission (SEC) volition correspond Caroline Ellison, ex-Alameda Research CEO, successful an ongoing national probe, according to a study from Bloomberg connected Dec. 10. 

Caroline volition beryllium represented by Stephanie Avakian and a squad of attorneys from WilmerHale. Avakain is presently seat of the Securities and Financial Services section astatine the instrumentality firm. At the SEC, wherever she was a manager astatine the Enforcement Division and liable to grow cryptocurrency oversight, bringing cases against Robinhood and Ripple Lab.

According to the instrumentality steadfast website, "Ms. Avakian oversaw the Division’s astir 1,400 professionals and staff. During her 4 years starring the Division, the SEC brought much than 3,000 enforcement actions, obtained judgments and orders for much than $17 cardinal successful penalties and disgorgement, and returned astir $3.6 cardinal to harmed investors."

Her illustration astatine the instrumentality steadfast website besides noted that nether "Ms. Avakian’s absorption acrophobic a wide scope of issues including insider trading, fiscal fraud and disclosure violations, auditor and accounting issues, marketplace structure, plus management, and the Foreign Corrupt Practices Act. She besides led the Enforcement Division successful confronting caller issues astatine the forefront of the markets today, specified arsenic archetypal coin offerings, integer assets, and cybersecurity."

Related: FTX was the ‘fastest’ firm nonaccomplishment successful US past — Trustee calls for probe

A fig of investigations and astatine slightest 7 people enactment lawsuits person been filed against FTX Group and its heads, Cointelegraph reported. Prosecutors with the United States attorney’s bureau successful the Manhattan territory of New York and California’s Department of Financial Protection and Innovation are investigating the bankrupt crypto exchange and its subsidiaries.

Federal prosecutors person besides begun investigating whether Sam Bankman-Fried, the erstwhile CEO of FTX, was down the illness of the Terra ecosystem. As portion of a broader enquiry into FTX’s ain collapse, prosecutors are investigating whether Bankman-Fried’s empire intentionally caused a flood of “sell” orders connected Terra’s algorithmic stablecoin TerraUSD Classic (USTC). According to a study from The New York Times, the bulk of the USTC merchantability orders came from Alameda Research.