Online Takes From the Ex-CEO of Alameda Research
Following the implosion of cryptocurrency exchange FTX, the world is scrambling to learn more about Caroline Ellison.
Ellison was the CEO of Alameda Research, a trading firm that borrowed customer funds from FTX to cover its losses and make risky bets. She was fired when FTX and Alameda Research filed for bankruptcy.
On December 18, Ellison struck a plea deal with prosecutors in the Southern District of New York, pleading guilty to seven charges including wire and securities fraud. These charges carry a maximum sentence of 110 years in prison. According to Ellison's plea deal, she has agreed to provide prosecutors with evidence and "truthfully testify" about the FTX implosion during court trials.
Until recently, Ellison was a shadow behind the success of FTX and Sam Bankman-Fried, who was widely regarded as a crypto wunderkind.
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On October 10 and 11, Ellison attended Bankman-Fried's trial in New York and took to the witness stand to testify against her ex-boss and ex-boyfriend.
Since FTX's demise, a Twitter account and two Tumblr blogs — that include personal and professional details that match those of Ellison's — have become the internet's greatest resources on the former CEO. They offer what could be a glimpse into the 28-year-old's personal beliefs, including her thoughts on cryptocurrency trading.
While Ellison's views are certainly not a direct reflection of her work, they map onto larger questions of diversity within the cryptocurrency industry. CoinDesk, a cryptocurrency publication, noted that "white men dominate crypto" while a 2022 study from the Morning Consult showed that 62% of all cryptocurrency owners identified as white and male.
Ellison did not respond to requests for comment. Here are some of the most revealing quotes found on these social media accounts.
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December 22, 2022: This story has been updated to reflect the details of Ellison's plea deal.
October 12, 2023: This story has been updated to reflect the details of Ellison's witness testimony at Bankman-Fried's trial.
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