Former Alameda Research CEO Caroline Ellison has joined the nonprofit Manifund, working on a trial basis from July 13 before moving to full-time employment on August 10, co-founder Austin Chen announced. Ellison will help develop Manifund’s funding platform and explore ways to allocate charitable funds more effectively, Chen said.

Role at Manifund

Chen said Ellison posted content and assisted Manifund users under the pseudonym Carol before the organization publicly announced her appointment.

Manifund is a nonprofit grantmaking platform that allows donors to direct funds to initiatives involving effective altruism, technical research, AI safety and other areas.

FTX case and sentence

Ellison was a key figure in the case arising from FTX’s collapse. In December 2022, she pleaded guilty to seven charges and agreed to cooperate with the U.S. Department of Justice in its case against former FTX CEO Sam Bankman-Fried.

In September 2024, Ellison was sentenced to two years in prison for her role in the FTX fraud. She was later moved to “conditional confinement” ahead of early release and was staying at a reintegration office in New York at the time.

The U.S. Securities and Exchange Commission also reached settlements with Ellison and other former FTX executives. The regulator barred her from holding executive roles at public companies for 10 years.

In Manifund’s statement, Chen noted that he believes “in redemption” and wants to give Ellison an opportunity to “be useful to the world again.” Ellison said she regrets her actions at Alameda and FTX and is grateful for a “second chance.”

Source: Incrypted