Ellison was sentenced for her role in a massive financial fraud, which involved the misappropriation of $8 billion in customer funds from FTX, the cryptocurrency exchange founded by Sam Bankman-Fried.  

Yes, during her sentencing hearing, Ellison expressed deep regret, saying that she thinks about the harm she caused every day and wished she had been brave enough to speak out sooner.

Ellison’s sentence was reduced due to her significant cooperation with the authorities, which was instrumental in securing Bankman-Fried’s conviction. Prosecutors recommended leniency because of her honest and full cooperation.

Besides Ellison, Nishad Singh and Gary Wang, two other former FTX executives who cooperated with prosecutors, are awaiting sentencing in October and November, respectively.