A New Chapter: Caroline Ellison Moves from Crypto Scandal to Nonprofit Sector
A recent report from MyXmr reveals a significant career shift for Caroline Ellison, the former CEO of Alameda Research. As of September 12th, she has officially joined the nonprofit charitable organization, Manifund, where she will lead the development of its donation platform and strengthen its philanthropic initiatives.
A Gradual Transition and a Fresh Start
Austin Chen, co-founder of Manifund, shared that Ellison’s integration into the team has been a gradual process. She began a trial period with the organization in July, transitioning to a full-time role in August. During this time, she worked under the pseudonym “Carol.” Chen stated that Ellison’s primary responsibilities will involve spearheading the technical development and strategic enhancement of the donation platform to amplify the impact of the charity’s projects.
The Inescapable Past: Guilty Plea, Testimony, and Incarceration
This career move is inextricably linked to Ellison’s history. In December 2022, she pleaded guilty to fraud and conspiracy charges related to the collapse of the FTX exchange, a catastrophic event that resulted in billions of dollars in customer losses. As a cooperating witness, Ellison assisted prosecutors and testified against FTX founder Sam Bankman-Fried, who was later sentenced to 25 years in prison.
Ellison began serving her own two-year sentence in November 2024. Due to her substantial cooperation with authorities, she was granted early release in January 2026.
“I Believe in Redemption”: Founder’s Backing and Ellison’s Response
Addressing the potentially controversial appointment, Manifund co-founder Austin Chen offered a clear rationale: “I believe in redemption. Caroline has admitted her mistakes, worked to repay creditors, and has served her time. I hope the world can see that too.” This statement provides crucial institutional support for Ellison’s new role.
For her part, Ellison expressed enthusiasm for the position and gratitude for the opportunity. She apologized for her past actions and specifically thanked Austin Chen for judging her based on her current work and capabilities, offering her a “second chance.”
Manifund’s Core Focus
According to its website, Manifund is a nonprofit focused on funding projects in specific, forward-looking fields. Its primary grant-making areas are AI safety and effective altruism. Ellison’s arrival is poised to bring new perspective and operational expertise to the organization’s work in these complex domains.