Caroline Ellison's New Charity Job Comes With an Awkward FTX Link

What happened

Caroline Ellison, former CEO of Alameda Research, has been hired by the charity Manifund, according to its co-founder Austin Chen. She reportedly worked under the name 'Carol' for two months. Ellison was previously in a relationship with FTX's Sam Bankman-Fried.

Confirmed

Global impact / market context

This news connects a key figure from the collapsed FTX exchange to a charity, potentially drawing attention to how crypto-related individuals and funds are used. It may raise questions about vetting processes and affect public trust in charitable organizations accepting such hires.

Analyst inference

The FTX collapse damaged investor confidence in crypto. A former insider now working in charity could be seen as an attempt to rebuild reputation, but it might also remind investors of the ongoing fallout, possibly influencing sentiment around crypto-related businesses and their regulatory scrutiny.

Analyst inference

What to watch

1. Austin Chen's Substack post is the source of this information, confirming the hire and Ellison's use of the name 'Carol'. Watch for further statements from Manifund or Ellison about her role and responsibilities. Confirmed
2. Investors might observe how the charity's donors and partners react to this news. A public backlash could lead to funding changes or increased scrutiny of Manifund's operations, potentially affecting its future projects and financial support. Proposed
3. Regulators or the public may focus on whether Ellison's involvement violates any legal or ethical norms, given her past role in Alameda Research. This could prompt new discussions about accountability and influence in the crypto and charity sectors. Analyst inference

Evidence

• news.bitcoin.com