14 May 2025

An ex-SEC expert to counsel Caroline Ellison in court

Alameda Research’s CEO will be represented by Stephanie Avakian in the federal investigation. She is a partner at the international law firm and the former Director of the US Securities and Exchange Commission’s Division of Enforcement.

Caroline Ellison, ex-Alameda's CEO, hired a qualified lawyer with a long track record of digital assets cases. People familiar with the details of the investigation provided this information to Bloomberg under the condition of anonymity.

Ellison, who has not yet made a statement regarding the situation with FTX and Alameda Research, will be represented in court by WilmerHale partner Stephanie Avakian. She has extensive experience working for both private and government organizations, including the US Securities and Exchange Commission.

Avakian has held many positions with the SEC throughout her career, including investigator, commissioner's adviser, and director of enforcement. Under her leadership, over 1,400 professionals initiated more than 3,000 enforcement actions that resulted in collecting nearly $17 million in fines and returning $3.6 billion to harmed investors. Most investigations were related to cryptocurrencies, financial fraud, accounting and auditing, insider trading, and cybersecurity.

While working for the SEC, Avakian oversaw enforcement actions against Ripple Labs, Telegram, and Elon Musk. She chairs the Securities and Financial Services Department at WilmerHale.

Another WilmerHale partner, Anjan Sahni, a former US attorney for the Southern District of New York, is also working on Ellison's case, according to the sources. Sahni and Avakian were spotted together at the Southern District prosecutors’ office in Manhattan. However, there is no trustworthy evidence that their visit was related to Ellison. 

Anjan Sahni specializes in the prosecution of securities and commodities fraud, including market manipulation, accounting fraud, money laundering, and violation of economic sanctions laws. One of his recent high-profile cases was a criminal antitrust trial, in which he obtained an acquittal.

The WilmerHale partners have not made any comments on their involvement in Caroline Ellison’s case. If this information is accurate, there is no doubt that a gifted mathematician from a respectable family is in good care.

SBF, with whom Ellison had more than just professional ties, has reportedly retained Mark S. Cohen as an attorney. The managing partner of Cohen & Gresser is known for working with Donald Trump and defending Ghislaine Maxwell, who was accused of sex trafficking.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
Thai Government to Issue $150M in G-Tokens for Retail Investors

Thai Government to Issue $150M in G-Tokens for Retail Investors

Thailand’s Finance Ministry is introducing a retail-friendly digital token worth THB 5 billion (~$150M). Unlike traditional bonds, G-Tokens aren’t debt-backed—but they’ll offer returns higher than local bank deposits.

Dmytro Psevdonimenko
Tether Launches XAUT on Maxbit: Gold-Backed Tokens Now Tradeable in Thailand

Tether Launches XAUT on Maxbit: Gold-Backed Tokens Now Tradeable in Thailand

Tether’s XAUT—each token backed 1:1 with real gold—has launched on Maxbit, letting Thai users buy, trade, and hold gold on-chain, anytime, with full transparency and Swiss custody.

Anton Kryshtal
U.S.SEC Delays Grayscale’s Solana and Litecoin ETFs, Opens Public Comment for BlackRock and Dogecoin Proposals

U.S.SEC Delays Grayscale’s Solana and Litecoin ETFs, Opens Public Comment for BlackRock and Dogecoin Proposals

The SEC delays its decision on Grayscale’s Solana and Litecoin ETFs while opening public comment periods for proposed changes to BlackRock’s Bitcoin ETF and 21Shares’ Dogecoin ETF filing.

Vlad Vovk
Cynthia Lummis and Bernie Moreno Urge US Treasury to Review Crypto Tax Policy

Cynthia Lummis and Bernie Moreno Urge US Treasury to Review Crypto Tax Policy

U.S. Senators Cynthia Lummis and Bernie Moreno urged the Treasury to relieve the tax burden on corporations investing in digital assets, thereby promoting innovation in the country.

Anahit Avetisyan
Monica Long: How Ripple’s Quiet Force Is Redrawing Crypto’s Map

Monica Long: How Ripple’s Quiet Force Is Redrawing Crypto’s Map

Ripple’s Monica Long isn’t chasing headlines—she’s quietly building crypto’s future. From payments to tokenization, here’s how she’s reshaping finance from the inside.

Elina Moskovchuk
Top Crypto Tweets Today: Zerebro Dev Reveals He Faked His Suicide

Top Crypto Tweets Today: Zerebro Dev Reveals He Faked His Suicide

The biggest mystery in today’s Twitter/X recap is Zerebro dev Jeffy Yu, who claimed to take his life on a Pump.fun stream – but later said he faked the video to stop harassment.

Anahit Avetisyan
Top Crypto Tweets Today: Samourai Case, Curve X Hack & More

Top Crypto Tweets Today: Samourai Case, Curve X Hack & More

DOJ prosecutors reportedly suppressed key evidence in the Samourai Wallet case. Crypto lawyer Zack Shapiro shared the defense team’s hearing request on X.

Anahit Avetisyan
The Rise and Fall of Web3 Darlings: A Guide to Crypto Longevity

The Rise and Fall of Web3 Darlings: A Guide to Crypto Longevity

Most Web3 projects don’t collapse—they just stop being talked about. What makes one protocol a star and another a ghost? And why, in crypto, silence might signal transformation rather than failure?

Vlad Vovk
Beyond Profits: Understanding the Spiritual Side of Trading

Beyond Profits: Understanding the Spiritual Side of Trading

Are spiritual habits the missing link in trading psychology? For many, mindfulness and reflection offer a buffer against stress, reduce snap decisions, and aid in staying grounded through market volatility.

Vlad Vovk
How Cryptocurrency and Its Owners Are Tracked

How Cryptocurrency and Its Owners Are Tracked

Think blockchain is private? Wallets have no names and transfers seem untraceable — but that’s misleading. Discover how experts uncover wallet owners and link identities to transactions.

Vlad Vovk
The State of Crypto Regulation in 2025: Where the World Stands

The State of Crypto Regulation in 2025: Where the World Stands

A wave of regulation is sweeping the crypto world in 2025. From Washington to Brussels to Singapore, governments are setting new ground rules. What’s at stake for crypto’s next chapter?

Daryna Nesterenko
Blockchain-Based Distribution Platforms: Taking Control of Your Film’s Future

Blockchain-Based Distribution Platforms: Taking Control of Your Film’s Future

Blockchain lets filmmakers skip middlemen, control distribution, and get paid fairly. Director Markus Müller-Hahnefeld shares how it works.

Sebastian Scheplitz
Kaia: What Happens When LINE and Kakao Merge into One Blockchain

Kaia: What Happens When LINE and Kakao Merge into One Blockchain

In just half a year, Kaia has quietly racked up 20 million transactions and drawn in over 400,000 active wallets. Built directly into Asia’s most ubiquitous messaging apps, its reach now extends to nearly 300 million users—a bold blueprint for Web3 adoption.

Vlad Vovk
Correction or Pause? Bitcoin Steadies Above $100K After Overheating

Correction or Pause? Bitcoin Steadies Above $100K After Overheating

BTC has pulled back from $105,000 but still holds above $100,000. Profit-taking, liquidations, and declining leverage weigh on prices, while record ETF inflows and Coinbase’s addition to the S&P 500 offer support.

Vlad Vovk
Volatility Rattles Crypto Markets Ahead of U.S. Inflation Report

Volatility Rattles Crypto Markets Ahead of U.S. Inflation Report

Retail investors have sustained steep losses since the recent local top, as institutions stay cautious and await upcoming U.S. inflation data to recalibrate risk strategies.

Anton Kryshtal
MORE
Earning by Habit: How Crypto Weaves into Everyday Actions

Earning by Habit: How Crypto Weaves into Everyday Actions

You can now earn crypto tokens for your most routine daily habits — shopping, working out, or grabbing breakfast at a café. But how does it actually work?

Yara Zornell
Valletta: How Blockchain Became a Growth Engine for the Island of the Hospitallers

Valletta: How Blockchain Became a Growth Engine for the Island of the Hospitallers

Malta attracts crypto companies from around the world — flexible regulation, low taxes, and a prestigious European jurisdiction have turned the small city of Valletta into a land of opportunity.

Iaroslava Kramarenko
MORE