TLDR
- Caroline Ellison, former Alameda Research CEO, has joined nonprofit Manifund after being released from prison in January 2026
- She worked under the pseudonym “Carol” for two months before her identity was revealed
- Manifund co-founder Austin Chen publicly backed her hiring, citing belief in redemption
- Ellison pleaded guilty in 2022 to fraud, conspiracy, and money laundering tied to the FTX collapse
- The hiring has drawn criticism from within the effective altruism community
Former Alameda Research CEO Caroline Ellison has taken her first public job since leaving prison, joining nonprofit charity Manifund.
‼️ Caroline Ellison, who served a prison sentence over the collapse of FTX, has been working at the charitable funding platform Manifund under the pseudonym "Carol," publishing posts and handling user support without readers knowing who she was.
Founder Austin Chen made the hire… pic.twitter.com/YOkfEP6ciQ
— International Cyber Digest (@IntCyberDigest) September 12, 2026
Manifund co-founder and CEO Austin Chen announced the hire on September 11, 2026, via a Substack post. He revealed Ellison had already been working quietly at the organization since July under the name “Carol.”
“In fact, she started a work trial on July 13, which converted to a full-time role on Aug 10,” Chen wrote. She had been publishing work and supporting users under the pseudonym before her identity was disclosed.
Chen said he was inspired by some of her writing and made clear he believes in second chances. “Caroline has admitted her faults, worked to make creditors whole, and served her time in prison,” he said.
Ellison’s FTX Past
Ellison pleaded guilty on December 18, 2022, to wire fraud, securities fraud, conspiracy, and money laundering. The charges were connected to the collapse of the FTX crypto exchange, which wiped out billions of dollars in customer funds.
She cooperated with federal prosecutors and testified against FTX founder Sam Bankman-Fried during his 2023 trial. Bankman-Fried was convicted and sentenced to 25 years in prison.
Ellison began her two-year sentence in November 2024. She was held at a Connecticut prison before moving to a community confinement home in 2025. She was released on January 22, 2026, after serving 14 months.
Mixed Reaction to the Hire
Manifund is a 501(c)(3) charity focused on artificial intelligence safety and effective altruism projects. Many former FTX executives, including Ellison and Bankman-Fried, were known supporters of the effective altruism movement.
Not everyone welcomed the news. Cate Hall, former CEO of the Astera Institute, responded sharply in the comments. “With all due respect: You gotta be f***ing kidding me,” Hall wrote. She said the decision showed “truly terrible judgment” and could damage the reputation of Manifund and other effective altruism organizations.
Other commenters questioned whether Chen’s stated reasons were valid business grounds for hiring someone with Ellison’s background.
Ellison addressed the backlash directly in the post. “I completely understand why people may not want to work with me,” she said. She also added that she was “deeply sorry” for her role in the FTX collapse.
Despite the criticism, Ellison said she remains committed to effective altruism and is grateful for the opportunity. “I feel very lucky not only to have a job, but to be working somewhere that I think is doing great work,” she said.
Her role at Manifund involves developing its funding platform and supporting its philanthropic efforts.
