Caroline Ellison Hires SEC Crypto Regulator As FTX Probe Lawyer

Caroline Ellison has hired Stephanie Avakian, a former SEC enforcement division chief and current partner at WilmerHale to represent her in an ongoing federal investigation, according to Bloomberg News.
Caroline Ellison Hires SEC Crypto Regulator As FTX Probe Lawyer

Former Alameda Research head, Caroline Ellison hired Stephanie Avakian, the former crypto regulator at the U.S. Securities and Exchange Commission to represent her in an ongoing federal probe into the collapse of the FTX exchange

Despite having an active online persona before the company’s public problems snowballed last month, Ellison has kept a low profile in the aftermath of the collapse of Alameda and sibling exchange FTX. Additionally, Glenn Ellison, Ellison’s father, is the chair of the economics department at MIT, where SEC Chair Gary Gensler taught.

For those unaware, Avakian had been SEC enforcement director for four years, and deputy director for two before she joined WilmerHale in 2020. During her time as Director of the SEC’s Enforcement Division, Stephanie Avakian brought more than 3,000 enforcement actions including those against Robinhood Markets, General Electric, and Tesla Inc chief executive officer Elon Musk while she obtained judgments and orders for more than $17 billion in penalties and disgorgement, and returned approximately $3.6 billion to harmed investors.

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