Former Alameda CEO Caroline Ellison Takes New Role at Nonprofit Manifund

Caroline Ellison, the former CEO of Alameda Research, has joined nonprofit organization Manifund in a role focused on developing its funding platform and expanding its philanthropic work. Manifund cofounder Austin Chen announced the hire, revealing Ellison had quietly worked on trial since July under the pseudonym “Carol” before becoming a full-time employee in August.

From Prison to Philanthropy

Ellison pleaded guilty in December 2022 to fraud and conspiracy charges connected to the collapse of FTX, which caused billions of dollars in customer losses. She later testified against FTX founder Sam Bankman-Fried, who received a 25-year prison sentence. Ellison began serving her own two-year sentence in November 2024 but was released early in January 2026, reportedly due to her cooperation with investigators.

Founder Defends Decision to Hire Her

Chen said he believes in giving people a path to redemption, noting that Ellison had acknowledged her wrongdoing, helped repay creditors and completed her prison term. Ellison, in turn, expressed gratitude for the opportunity and said she was proud to work at an organization focused on a mission she believes in. Manifund’s work centers on artificial intelligence safety and effective altruism initiatives.