Sam Bankman-Fried Associates Plead Guilty to Charges in FTX Collapse

FTX founder Sam Bankman-Fried (2nd L) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas, on Dec. 13, 2022. Mario Duncanson/AFP via Getty Images

Two associates of failed FTX boss Sam Bankman-Fried have pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange.

Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, who co-founded FTX along with Bankman-Fried, pleaded guilty to charges in connection with “their roles in the fraud that contributed to FTX’s collapse,” U.S. Attorney for the Southern District of New York (SDNY) Damian Williams announced on Dec. 22.