Caroline Ellison is an American former business executive who is also the former CEO of Alameda Research, a trading company founded by Sam Bankman-Fried. Caroline, who running Bankman-Fried’s crypto trading firm was also his ex-girlfriend, pleaded guilty to seven counts that mirror a significant portion of Bankman-Fried’s indictment.
Her charges include two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering. She faces up to 110 years in prison.
Early life
Caroline was born in November 1994 and grew up in the Bahamas. She is the daughter of an economist, Glenn Ellison, who currently serves as chief of economics at the Massachusetts Institute of Technology, and an associate professor at the university in the economics department named Sara Fischer Ellison.
Caroline began studying Bayesian statistics at a young age before she could attend middle school. She always gave her father an economics study of the prices of stuffed animals at Toys ‘R’ Us. In one of her interviews with Forbes, she described how she had been exposed to many economics since she was born. She took part in math quizzes at the math prize for girls many times.
Caroline Ellison later went well beyond that competition, earning an honorable mention in taking part in the Language Olympiad. She once revealed in her interviews that she was only three when her parents read her the first Harry Potter book, then she was only five when she read the second Harry Potter book herself.
Caroline Ellison career
Immediately after graduating, Ellison worked for the quantitative trading firm Jane Street. There she met Sam Bankman-Fried at the company. She worked at Jane Street for almost 19 months. She later joined Alameda Research in 2019 and began working as Co-CEO with Sam Trabucco in October 2021. In August 2022, she became the sole CEO of Alameda Research after Sam Trabucco left his position.
The uncovering of the scam in November 2022
After firm CoinDesk raised concerns about Alameda Research’s balance sheet and its relationship with FTX on November 6, 2022, Ellison issued a statement saying it included only a portion of Alameda’s assets. The first has more than $10 billion in additional assets to date. On the other hand, the information was published online on November 9, 2022.
In a video, Ellison admitted that FTX had used client money to surmount and assume the company’s liabilities. In particular, two FTX executives, Nishad Singh and Gary Wang, the founders of Alameda Research – Sam Bankman-Fried and Caroline Ellison – were all secretly aware of the circumstances of the firm.
After that, more than 100 companies filed for Chapter 11 bankruptcy, including FTX and Alameda Research. Eventually, Ellison was fired from her position at Alameda Research. The position was held by John J. Ray III, an American personality who practiced as an American attorney and bankruptcy specialist.
Controversy
FTX co-founder Gary Wang and former Alameda Research CEO Caroline have admitted to the charges and have agreed to cooperate in the ongoing investigation. This was revealed by Damian Williams, the US Attorney for the Southern District of New York. It has not yet been determined to which charges both personalities (Gary Wang and Caroline Ellison) have pleaded guilty.
There was also a separate announcement on the drafting of the charges against Ellison and Wang by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). On the other hand, SEC Chairman Gary Gensler announced that Ms. Ellison and Mr. Wang played primary roles in the misuse of FTX client assets.
On the other hand, Bankman-Fried, once thought to be the world’s richest millennial after Mark Zuckerberg, was arrested in the Caribbean last week after the US government and judicial authorities announced the allegations against him. The activity, which was coaxed by Bankman-Fried, Gary Wang, and Caroline, has been described as “one of the largest financial scams in American history”.
Caroline Ellison Social life
Caroline is available on Twitter as @carolinecapital. The last tweet she had on social media was on November 6th, where she admitted that the firm is facing hedging and working under the worsening Crypto-lending situation, but it is certain that most loans have been returned.
Caroline Ellison Biography | |
|---|---|
| Real name | Caroline Ellison |
| birthday | Nov 1994 |
| Age (as of 2022) | 28 years |
| Place of birth | United States |
| profession | businessman |
| University | University at Stanford |
| qualification | graduate |
Physical Statistics | |
| Height | in feet inches – 5′ 2” – in centimeters – 157 cm |
| weight | in kilograms – 51kg – in pounds – 112 pounds |
| hair color | Brown |
| eye color | dark brown |
Caroline Ellison family | |
| Father | Glenn Ellison |
| mother | Sara Fisher-Ellison |
| sister | Anna Ellison, Kate Ellison |
| Brothers | – |
Relationship status | |
| Marital status | single |
| affair | no |
| Who is Caroline Ellison’s boyfriend? | none |
Personal life
As per the former employees’ suggestions, it was revealed that Ellison and Sam Bankman-Fried, the CEO of FTX, were both involved in a romantic relationship at the time. Even once, Caroline revealed on social media that she had found herself in polyamory — a situation in which a person is romantically involved with more than one partner.
Caroline Ellison net worth
According to the details obtained by Celebrity Net Worth, Caroline Ellison, the famous CEO, is said to have a net worth of $5 million.