From asking where the funds are to poking fun at Caroline Ellison’s trading skills, members of the crypto community reacted in a variety of ways to the news that the executives were pleading guilty.

In the latest update to the FTX saga, Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, have pleaded guilty to fraud allegations and are currently helping to investigate the former CEO of FTX, Sam Bankman-Fried. As the news broke, members of the crypto community shared their thoughts on the new development.

Whether it’s asking where clients’ funds went, poking fun at Ellison’s business skills, or whether executives gave Shark Tank star Kevin O’Leary insider business information, members from the crypto community had mixed reactions to the guilty pleas and tweeted his turn against Bankman-Fried.

Community members asked important questions. A Twitter user pointed to an urgent request: Where’s the customers’ money? They also asked if the confession would solve this problem or if the money was already gone.

On the other hand, another Twitter user drew Kevin O’Leary into the conversation and asked how much insider trading information O’Leary had been given regarding the pumping and dumping of assets. According to the community member, Bankman-Fried is not “the big fish” but simply “a perch swimming in the ocean”.

Meanwhile, another community member spoke about recent alleged sightings of Ellison in New York. The Twitter user explained that people who saw the photos of Ellison in New York should know that the executive branch came to the United States under protection.

Possible sighting of Caroline Ellison. Source: Twitter
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While many raised serious questions, others took the opportunity to add a little humor to the subject. A Twitter user poked fun at Ellison’s trading skills, saying her guilty plea was her first time using a stop-loss feature.

Internet sleuth Stephen Findeisen, better known as Coffeezilla, says the game is over for Bankman-Fried. Additionally, Findeisen shared that even though Bankman-Fried’s partners are apart, they’ve found a way to “fuck him one last time.”

Also Read: Alameda’s Caroline Ellison and FTX’s Gary Wang Faced More Cheating Allegations

Despite all of this, one community member couldn’t help but be cynical about the new development. According to the Twitter user, “nothing bad is going to happen.” The user is confident that the whole problem will soon be gone, like the stories of ocean pipeline explosion, Las Vegas shooting and Jeffrey Epstein’s island.

Meanwhile, Ellison, who is a key witness in the FTX investigation, avoided a possible 110 years in prison through a plea deal with the United States Attorney’s Office for the Southern District of New York. The former CEO of Alameda Research faces only criminal charges for tax violations and could be released immediately on $250,000 bail.

Source: CoinTelegraph