FTX applies to reach a settlement with former Alameda CEO, who will relinquish "all assets."

2024-10-09 14:18:51

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ChainCatcher news, according to Cointelegraph, FTX has filed a motion seeking court approval for a settlement agreement with former Alameda Research head Caroline Ellison.

Ellison has agreed to transfer assets not seized by the government or used for legal fees to FTX creditors. The motion states that once the terms are met, Ellison will only retain certain personal tangible property. She has also committed to cooperating with FTX's investigations and lawsuits, sharing information she obtained regarding Alameda and her relationship with Sam Bankman-Fried.

FTX stated that this settlement agreement would allow creditors to recover "almost all recoverable assets," and Ellison's cooperation would provide significant value.

A hearing on the proposed settlement is scheduled for November 20.

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