Bankman-Fried’s and Ellison’s 2023: Bankman-Fried kicked off 2023 by entering a not-guilty plea for all accounts, setting the stage for a four-week trial in October. If convicted, he could spend the rest of his life in prison. The prosecution’s case against SBF is based on allegations that he used FTX customer deposits to fund investments through Alameda Research. SBF maintains that he “wasn’t trying to commingle funds.” Ellison is out of jail after posting a $250,000 bond and surrendering her travel documents. She will still be required to pay restitution determined by the U.S. Southern District of New York. If she fully cooperates with the U.S. Attorney’s office, the only charges she will face are criminal tax violations. One of the biggest stories of 2022, the legal drama surrounding SBF will, unfortunately, continue to make headlines in 2023. In the meantime, FTX’s creditors — which include airlines, charities, technology firms and millions of customers — will await the outcome of the bankruptcy proceedings.