Key Highlights
- Caroline Ellison, previously CEO of Alameda Research, secured employment with nonprofit organization Manifund following her January 2026 prison release
- Initially operating under the alias “Carol,” she worked anonymously for two months before her true identity became public knowledge
- Austin Chen, Manifund’s co-founder, defended the decision to hire her, emphasizing his faith in rehabilitation
- In 2022, Ellison admitted guilt to multiple charges including fraud, conspiracy, and money laundering related to FTX’s implosion
- The employment decision has sparked significant controversy among effective altruism advocates
Caroline Ellison, the former chief executive of Alameda Research, has secured her first publicly acknowledged position following her incarceration, accepting a role with charitable organization Manifund.
On September 11, 2026, Austin Chen, who co-founded and leads Manifund, disclosed the appointment through a Substack publication. According to Chen, Ellison had been discreetly contributing to the organization’s operations since July, operating under the pseudonym “Carol.”
“She actually began a trial period on July 13, which transitioned into a permanent position on Aug 10,” Chen explained. Before her actual identity was made public, she had been creating content and assisting platform users anonymously.
Chen expressed admiration for portions of her written work and emphasized his conviction in offering individuals opportunities for redemption. “Caroline has acknowledged her mistakes, contributed toward making creditors whole, and completed her prison sentence,” he stated.
Background on FTX Involvement
On December 18, 2022, Ellison entered guilty pleas to charges encompassing wire fraud, securities fraud, conspiracy, and money laundering. These criminal charges stemmed from her involvement in the catastrophic failure of cryptocurrency platform FTX, which resulted in billions of dollars in customer losses.
She provided assistance to federal authorities and delivered testimony against Sam Bankman-Fried, FTX’s founder, throughout his 2023 criminal proceedings. Bankman-Fried received a conviction and a 25-year prison term.
Ellison commenced serving her two-year sentence in November 2024. She was initially incarcerated at a Connecticut facility before transferring to a community confinement residence in 2025. Her release occurred on January 22, 2026, after completing 14 months of her sentence.
Polarized Response from Community
Manifund operates as a registered 501(c)(3) charitable entity concentrating on artificial intelligence safety initiatives and effective altruism funding. Numerous previous FTX leadership members, Ellison and Bankman-Fried among them, were prominent advocates of effective altruism principles.
The announcement received considerable pushback from certain quarters. Cate Hall, who formerly led the Astera Institute, expressed strong disapproval in her response. “With all due respect: You gotta be f***ing kidding me,” Hall commented. She characterized the hiring as demonstrating “truly terrible judgment” with potential to harm Manifund’s standing and that of associated effective altruism entities.
Additional commenters raised concerns about whether Chen’s stated rationale constituted legitimate justification for employing someone with Ellison’s criminal history.
Ellison personally acknowledged the negative reactions within the post. “I completely understand why people may not want to work with me,” she acknowledged. She further expressed being “deeply sorry” for her participation in the FTX disaster.
Notwithstanding the criticism, Ellison indicated her continued dedication to effective altruism principles and expressed appreciation for the employment opportunity. “I feel very lucky not only to have a job, but to be working somewhere that I think is doing great work,” she commented.
Her responsibilities at Manifund include advancing the organization’s funding platform and contributing to its charitable initiatives.
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