Caroline Ellison Net Worth: The CEO of Alameda Research, a quantitative crypto trading firm at the center of the collapse of cryptocurrency exchange FTX, is a polyamorous Harry Potter fan who was romantically linked to the CEO of FTX, Sam Bankman-Fried.
Caroline Ellison spent three years as a trader at Alameda before being promoted to CEO. When her cryptocurrency derivatives exchange, FTX, and Alameda Research, both of which she co-founded, went bankrupt, her name began to rise in prominence. Ellison’s notoriety has been stoked by comments she and others have made on Twitter, such as those about amphetamine use.
The daughter of renowned US economist and MIT professor Glenn Ellison, she entered the world in 1994. (MIT).
Ellison worked as a trader at Jane Street, a global proprietary trading firm, between the years 2016 and 2018, as evidenced by his profile on the social networking site LinkedIn. From 2014 to 2017, Bankman-Fried worked as a trader on Jane Street.
Caroline and her co-CEO at Alameda, Sam Trabucco, made Forbes’ list of “30 under 30.” She was 27, he was 29, and they met in their early twenties. Forbes claimed that Alameda was making $3 to $4 million per day, and then invested those funds in blockchain platforms like Uniswap and Compound, yielding even greater returns.
Caroline Ellison Net Worth in 2022
Business executive Caroline Ellison has a net worth of $15 million as of the end of 2022. In her previous position as CEO of Alameda Research, which deals in cryptocurrency trading, Caroline attained a certain level of notoriety. Sam Bankman-Fried, a businessman who has since been disgraced, helped found Alameda.
Towards the end of 2022, she was let go after Alameda and more than a hundred other crypto-related companies, most notably Bankman-crypto Fried’s exchange FTX, filed for Chapter 11 bankruptcy in the wake of a massive financial scandal. As a result of the scandal, the once $30 billion company FTX is now worth nothing.
The hedge fund allegedly lost a massive sum of money in trading, so it is rumored that FTX transferred $10 billion to Alameda from its clients to make up the difference. Ellison is well-known in her field, and she has also been linked romantically to Bankman-Fried.
What Was the Key to Caroline Ellison Success?
After college, Ellison found work at Jane Street, a quantitative trading firm, where he was introduced to Sam Bankman-Fried. Ellison spent 19 months as an intern trader on Jane Street. She moved to Alameda Research in March 2018.
Ellison became the sole CEO of Alameda Research after her co-CEO Sam Trabucco resigned in August 2022. Ellison funded the FTX Future Fund so that good causes that follow the principles of effective altruism can continue to operate.
On November 6, 2022, CoinDesk raised serious concerns about Alameda Research’s balance sheet and its connection to FTX. In response, Ellison claimed that the information was incomplete and that the company actually had more than $10 billion in additional assets.
Ellison, Bankman-Fried, and two other FTX executives, Nishad Singh and Gary Wang, allegedly knew that FTX used customer money to help Alameda meet its obligations, according to anonymous sources cited by the Wall Street Journal and The New York Times on November 9, 2022. This was discussed in a video meeting with staff.
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What Makes Caroline Ellison Such a Hot Topic?
Meet Caroline Ellison, CEO of Sam Bankman Fried's Alameda Research and self-described Harry Potter fan. And now you know what happened to FTX.
— Ian Miles Cheong (@stillgray) November 11, 2022
Media attention was drawn to Ellison as a result of the recent decline in the value of cryptocurrencies. The shared balance sheet provides evidence linking the FTX and the Alameda Research markets. Caroline Ellison, CEO of Alameda, was consequently blamed by many for the company’s decline.
When Ellison Became CEO of Alameda
Ellison started working for Alameda Research, a cryptocurrency trading firm founded by Sam Bankman-Fried and Tara Mac Aulay, in March 2018. In October of 2021, Ellison was promoted to serve alongside Sam Trabucco as the company’s co-CEO. Ellison became Alameda’s sole CEO after Trabucco resigned in the summer of 2022. She was also instrumental in the Bankman-establishment Fried’s of FTX, a cryptocurrency exchange, and hedge fund.
An anonymous source claimed in late 2022 that Alameda owed $10 billion to Bankman-FTX, Fried’s which was rumored to have loaned the company money using its customers’ funds. Ellison admitted to the behavior and stated that she, Bankman-Fried, and FTX executives Gary Wang and Nishad Singh were aware that FTX had stolen customer assets and covered up the misuse of this information.
Are Caroline Ellison and Sam Bankman Dating?
Numerous people assume Ellison is close with Bankman-Fried. She reportedly shared the tycoon’s lavish penthouse in the Bahamas, where FTX is headquartered, with eight other people. Gary Wang, co-founder of FTX, and Nishad Singh, director of engineering at FTX, also live there.
The publication bases its claim that Ellison and Bankman-Fried had an affair on statements from anonymous sources within the FTX leadership. They were previously thought to be romantically involved, but their relationship has since ended.
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