Former Alameda Research CEO Caroline Ellison may avoid prison time for her involvement in the collapse of FTX exchange. During the trial last year, she pleaded guilty to fraud related to FTX's operations and testified against herself. At that time, FTX filed for bankruptcy in the fall of 2022. However, in a recent filing, Ellison's lawyers stated that the probation department submitted a pre-sentence report recommending three years of supervised release for her, mainly based on her 'extraordinary cooperation' with the government and the submission of character evidence. Additionally, the pre-sentence report noted that no fine should be imposed on Ellison.