Caroline Ellison, ex-CEO of Alameda Research, has begun her two-year prison sentence for her involvement in the FTX fraud scandal. She was sentenced for her critical cooperation with prosecutors, having testified against former boyfriend and FTX founder Sam Bankman-Fried, who received a 25-year sentence. Ellison expressed deep remorse during her sentencing, highlighting the impact of the fraud that cost billions to investors and customers alike. The case is marked as one of the largest financial frauds in U.S. history, with significant repercussions in the cryptocurrency industry.