Caroline Ellison, the ex-Alameda Research CEO, was said to have hired a former Securities and Exchange Commission regulator who oversaw a number of high-profile cryptocurrency-related cases, to represent her in an ongoing federal investigation into the abrupt implosion of crypto exchange FTX ( FTT-USD ). Ellison will be represented by Stephanie Avakian, who used to serve as director of the SEC's Enforcement Division, people familiar with the matter told Bloomberg last week, as well as a team of lawyers from WilmerHale, where Avakian currently serves as chair of the Securities and Financial Services department. Alameda was the sister trading firm of FTX and played a key role in the demise of Sam Bankman-Fried's crypto empire. SBF and his exchange have come under several federal probes that aim to shed more light on the tangled relationship between FTX and Alameda and the consequent losses of customer funds. Unlike Bankman-Fried, Ellison has so far kept her mouth shut, "fueling speculation that she may be seeking a cooperation deal with authorities," the article read. Earlier, SBF told BBC in an interview that he hopes to start a new venture in an effort to repay FTX investors .
