Former Alameda CEO Caroline Ellison Hired by Philanthropic Nonprofit Manifund Following Prison Release

Caroline Ellison, the former chief executive of Alameda Research, has secured her first publicly disclosed professional role since the 2022 collapse of the FTX cryptocurrency exchange, joining the grantmaking nonprofit Manifund. Manifund co-founder Austin Chen authorized the hire to develop the organization's funding platform and research philanthropic capital allocation, framing the decision as a deliberate exercise in professional redemption.[1][8]

The appointment began quietly over the summer. Ellison initiated a work trial on July 13, 2026, operating under the pseudonym "Carol" to handle user support and bookkeeping for the nonprofit. On August 10, that trial converted into a full-time position. Chen publicly announced the hiring on September 11, apologizing for the temporary lack of transparency while defending the practice of using pseudonyms for individuals with famous identities.[1][7][8]

During her initial two months, Ellison applied her financial background to Manifund's internal systems. According to Chen, she built a reconciliation tool that successfully flagged misregistered transactions worth six-figure amounts. Her permanent role shifts her focus away from cryptocurrency trading and toward systems management for philanthropic distribution, specifically targeting artificial intelligence safety and effective altruism projects.[2][8]

The transition back into the workforce follows Ellison's early release from federal custody. In December 2022, she pleaded guilty to seven counts of fraud and conspiracy related to the misappropriation of billions in FTX customer funds. After cooperating extensively with prosecutors and testifying against FTX founder Sam Bankman-Fried, Ellison received a two-year sentence. She began serving her term in November 2024 and was released in January 2026 after 14 months.[1][2]

Manifund's leadership explicitly addressed the reputational risks of hiring a central figure from one of the largest financial frauds in recent history. "I believe in redemption," Chen wrote in his public announcement. "Caroline has admitted her faults, worked to make creditors whole, and served her time in prison. I'd like to give her the opportunity to contribute back to the world; I hope that the world will concur."[1][7][8]

Ellison herself acknowledged the unusual nature of her return to the professional sphere. In a statement included in the Manifund announcement, the 31-year-old addressed her past conduct. "I'm deeply sorry for what I did, and I completely understand why people may not want to work with me," Ellison wrote. She added that she was grateful to Chen for "judging me on my current work performance rather than my past."[1]

The hiring also underscores the enduring, if complicated, network of the effective altruism community. Manifund originally grew out of Manifold Markets, a prediction-market company that received its seed funding from the FTX Future Fund—the philanthropic arm of Bankman-Fried's exchange. Chen noted that much of Manifund's current operational philosophy was directly inspired by the Future Fund's approach to grantmaking.[7][8]

The decision to initially obscure Ellison's identity has drawn scrutiny regarding corporate transparency. While Chen argued that pseudonymous work is common for high-profile figures seeking a quiet return, critics note that placing a convicted financial executive in a bookkeeping and systems management role without donor knowledge carries distinct ethical liabilities.[7]

The long-term viability of Ellison's position now depends on the reaction of the broader philanthropic sector. Because Manifund relies on external capital to fund its grants, the organization must convince its donors that Ellison's technical expertise in financial reconciliation outweighs the reputational friction of her tenure at Alameda Research.[2]