Caroline Ellison, the former CEO of Alameda Research, is starting a new chapter away from trading desks and the courtroom. This time, she is focusing on philanthropy and technology at Manifund. Ellison secured the position after serving time for her role in the FTX fraud.
This change in employment is important because her name is still linked to major losses that impacted thousands of customers and altered how people view cryptocurrency.
Ellison Takes New Role at Manifund
Caroline Ellison has joined Manifund to develop its funding platform and research ways of directing philanthropic dollars. Founder Austin Chen made the disclosure, saying:
“I’m happy to announce that Caroline Ellison has accepted a role at Manifund to develop our funding platform and research how to effectively direct philanthropic dollars.”
Ellison began a work trial on July 13, which became a position on August 10, while working under the pseudonym “Carol” for months. Commenting on the development, Chen said, “I believe in redemption,” explaining that Ellison admitted her faults, worked toward making creditors whole, and served her sentence.
Ellison, acknowledging the weight of her past, expressed gratitude to Austin for giving her a second chance. She said she was lucky to have employment at an organization whose mission she believes in, rather than hiding behind identity.
Her responsibilities include improving Manifund’s technical infrastructure, handling operations, supporting customers, and posting updates through its newsletter for users directly. Chen said Ellison had already proved useful by building a reconciliation tool that uncovered misregistered transactions within Manifund’s database.
He described her as kind, humble, hardworking, smart, witty, and deeply committed to serving users and donors effectively.
FTX Collapse and Restrictions After Prison
Ellison’s new position follows the collapse of FTX in 2022, when the exchange failed amid revelations that customer funds had been misused. As the CEO of Alameda, FTX’s sister firm, she pleaded guilty to federal fraud charges and became a key witness against FTX founder Sam Bankman-Fried.
She was subsequently sentenced to two years in prison by Judge Lewis Kaplan. Ellison was later released from custody in January 2026 after serving approximately 14 months. However, her legal obligations did not end there. On August 19, the Commodity Futures Trading Commission (CFTC) announced that it imposed a five-year trading ban on her.
These orders included a 10-year registration ban, restricting her from participating in activities that require registration under the Commodity Exchange Act. As a result, her return to employment does not signify regulatory freedom, even after completing her prison sentence.
Jonathan Agozie | September 8, 2026
