Alameda Research

2017-11-01

Sam Bankman-Fried co-founds Alameda Research in Berkeley, California as a quantitative cryptocurrency trading firm.

2018-01-01

Alameda executes a bitcoin Japan-US arbitrage trade, earning an estimated $10–$30 million.

2019-04-01

FTX cryptocurrency exchange is founded by Bankman-Fried. Alameda relocates to Hong Kong. According to later trial testimony, Alameda began drawing on FTX customer funds as early as this year.

2022-11-02

CoinDesk publishes a report revealing Alameda Research's balance sheet, showing its largest asset is $3.66 billion of FTX's own FTT token, raising questions about the independence and solvency of both entities.

2022-11-06

Binance CEO Changpeng Zhao announces Binance will sell its FTT holdings. Caroline Ellison publicly offers to buy Zhao's FTT at $22 per token. A bank run on FTX begins.

2022-11-08

Binance signs a non-binding letter of intent to acquire FTX. Within hours, Binance withdraws after due diligence reveals the extent of mishandled customer funds.

2022-11-11

FTX Trading Ltd., Alameda Research LLC, and over 100 affiliated entities file for Chapter 11 bankruptcy in Delaware. Bankman-Fried resigns as CEO of FTX. John J. Ray III is appointed CEO.

2022-12-12

Sam Bankman-Fried is arrested in the Bahamas at the request of U.S. authorities.

2022-12-13

The CFTC files a complaint against Bankman-Fried, FTX, and Alameda Research for fraud and material misrepresentations. The DOJ and SEC file parallel charges the same day.

2022-12-18

Caroline Ellison and Gary Wang plead guilty to multiple criminal counts in the Southern District of New York and agree to cooperate with prosecutors.

2023-02-01

Nishad Singh pleads guilty to six criminal counts including fraud and conspiracy and agrees to cooperate with prosecutors.

2023-09-07

Ryan Salame pleads guilty to conspiracy to defraud the FEC and operating an unlicensed money transmitting business.

2023-11-02

A federal jury in the Southern District of New York finds Sam Bankman-Fried guilty on all seven criminal counts presented at trial.

2024-03-28

Judge Lewis Kaplan sentences Sam Bankman-Fried to 25 years in federal prison and orders $11 billion in forfeiture.

2024-08-08

The U.S. District Court for the Southern District of New York enters a $12.7 billion consent judgment against FTX Trading Ltd. and Alameda Research LLC — the CFTC's largest-ever recovery — comprising $8.7 billion in restitution and $4 billion in disgorgement.

2024-09-24

Caroline Ellison is sentenced to two years in federal prison and $11 billion in forfeiture for her role in the FTX fraud.

2024-10-30

Nishad Singh is sentenced to time served and three years of supervised release, with $11 billion in forfeiture, in recognition of extensive cooperation with prosecutors.

2024-11-20

Gary Wang is sentenced to time served and three years of supervised release, with $11 billion in forfeiture, for his role in building the fraudulent FTX infrastructure.

2026-01-22

Caroline Ellison is released from federal custody after serving approximately 14 months of her two-year sentence.