Associates of Sam Bankman-Fried plead guilty to fraud charges after FTX collapse

Two associates of Sam Bankman-Fried have pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange FTX and are helping investigators with their inquiries.

The complaint underscores the picture given by multiple investigations of a tight link between Alameda, which had no outside investors, and FTX. The two companies shared bank accounts and key staff members, commingled funds and were both ultimately under the direct control of Bankman-Fried, according to the complaint, despite the nominal authority of Ellison, his sometime girlfriend.