Caroline Ellison

Ellison was born in Boston to a Jewish family and grew up in nearby suburbs Cambridge and Newton.{{cite news |last1=Palmer |first1=Sarah |title=What do we know about Caroline Ellison and Gary Wang, the senior associates behind FTX's downfall? |url=https://uk.news.yahoo.com/know-caroline-ellison-gary-wang-125239045.html |access-date=28 December 2022 |publisher=Yahoo |date=December 22, 2022 |archive-date=28 December 2022 |archive-url=https://web.archive.org/web/20221228233745/https://uk.news.yahoo.com/know-caroline-ellison-gary-wang-125239045.html |url-status=live }} She is the eldest of three daughters of Glenn and Sara Fisher Ellison, both economists at MIT.{{cite web |last1=Dean |first1=Grace |title=Caroline Ellison said she grew up 'exposed to a lot of economics.' Here's everything we know about her MIT economist parents. |url=https://www.businessinsider.com/who-are-caroline-ellisons-parents-alameda-research-fraud-ftx-sbf-2022-12 |access-date=30 December 2022 |website=Business Insider |date=December 26, 2022 |archive-date=30 December 2022 |archive-url=https://web.archive.org/web/20221230213608/https://www.businessinsider.com/who-are-caroline-ellisons-parents-alameda-research-fraud-ftx-sbf-2022-12 |url-status=live }}{{cite news |title=Hard Math = Powerful Fun |url=https://shass.mit.edu/news/news-2013-mit-economist-ellisons-hard-math-books-inspire-young-students |access-date=31 December 2022 |publisher=MIT |date=2013 |archive-date=1 January 2023 |archive-url=https://web.archive.org/web/20230101080223/https://shass.mit.edu/news/news-2013-mit-economist-ellisons-hard-math-books-inspire-young-students |url-status=live }} Ellison was brought up Catholic.{{Cite web |title=Caroline Ellison: How a young math whiz with an appetite for risk became a major player in Sam Bankman-Fried's corrupt crypto empire |url=https://fortune.com/longform/caroline-ellison-alameda-ftx-sam-bankman-fried/ |access-date=29 May 2023 |website=Fortune |archive-date=28 May 2023 |archive-url=https://web.archive.org/web/20230528205058/https://fortune.com/longform/caroline-ellison-alameda-ftx-sam-bankman-fried/ |url-status=live }} She says she and her siblings were exposed to economics early, learning Bayesian statistics in primary school.{{Cite web |last=Jeans |first=David |title=Meet Caroline Ellison, the 'Fake Charity Nerd Girl' Behind The FTX Collapse |url=https://www.forbes.com/sites/davidjeans/2022/11/18/queen-caroline-the-risk-loving-29-year-old-embroiled-in-the-ftx-collapse/ |url-status=live |archive-url=https://web.archive.org/web/20230824041825/https://www.forbes.com/sites/davidjeans/2022/11/18/queen-caroline-the-risk-loving-29-year-old-embroiled-in-the-ftx-collapse/ |archive-date=24 August 2023 |access-date=30 August 2023 |website=Forbes}} At age 8, Ellison gave her father an economic study of stuffed animal prices from Toys "R" Us for his birthday. At Bigelow Middle School,{{cite news |title=Newton's Middle School all-female math squad scores at state championship |url=https://www.wickedlocal.com/story/newton-tab/2010/03/16/newton-s-middle-school-all/37272542007/ |access-date=30 December 2022 |publisher=Newton Tab |date=16 March 2010 |archive-date=30 December 2022 |archive-url=https://web.archive.org/web/20221230124233/https://www.wickedlocal.com/story/newton-tab/2010/03/16/newton-s-middle-school-all/37272542007/ |url-status=live }}{{cite journal |last1=Ellison |first1=Glenn |last2=Swanson |first2=Ashley |title=The Gender Gap in Secondary School Mathematics at High Achievement Levels: Evidence from the American Mathematics Competitions |journal=Journal of Economic Perspectives |date=June 2010 |volume=24 |issue=2 |pages=109–128 |doi=10.1257/jep.24.2.109 |s2cid=51730381 |url=https://www.aeaweb.org/articles?id=10.1257/jep.24.2.109 |access-date=30 December 2022 |issn=0895-3309 |archive-date=30 December 2022 |archive-url=https://web.archive.org/web/20221230215113/https://www.aeaweb.org/articles?id=10.1257/jep.24.2.109 |url-status=live |hdl=1721.1/71007 |hdl-access=free }} Ellison and her younger sister Anna competed with the math team coached by their father.{{Cite web |last=Dean |first=Grace |title=Caroline Ellison said she grew up 'exposed to a lot of economics.' Here's everything we know about her MIT economist parents |url=https://www.businessinsider.com/who-are-caroline-ellisons-parents-alameda-research-fraud-ftx-sbf-2022-12 |access-date=30 August 2023 |website=Business Insider |archive-date=20 July 2023 |archive-url=https://web.archive.org/web/20230720182626/https://www.businessinsider.com/who-are-caroline-ellisons-parents-alameda-research-fraud-ftx-sbf-2022-12 |url-status=live }} In 2008, Ellison received top honors in the American Mathematics Competitions.

As a Newton North High School student, she represented the US in the 2011 International Linguistics Olympiad and received an honorable mention and an award for "best solution".{{Cite web |title=International Linguistics Olympiad participants, 2011 |url=https://ioling.org/participants/2011 |access-date=13 November 2022 |archive-date=13 November 2022 |archive-url=https://web.archive.org/web/20221113182348/https://ioling.org/participants/2011 |url-status=live }}{{Cite web |date=3 November 2011 |title=Whiz Kid: Newton North Student Takes on World Competition |url=https://patch.com/massachusetts/newton/whiz-kid-newton-north-student-takes-on-world-competition |access-date=15 November 2022 |website=Newton, MA Patch |archive-date=15 November 2022 |archive-url=https://web.archive.org/web/20221115105406/https://patch.com/massachusetts/newton/whiz-kid-newton-north-student-takes-on-world-competition |url-status=live }} Ellison competed in the Greater Boston Math League through her high school and served as the team's captain. She represented Newton several times in the Math Prize for Girls. During her senior year, Ellison was accepted into the MIT PRIMES after-school program.{{cite web |title=PRIMES: Caroline Ellison MIT Mathematics |url=https://math.mit.edu/research/highschool/primes/testimonials/t-Ellison.php |publisher=math.mit.edu |access-date=30 December 2022 |archive-date=30 December 2022 |archive-url=https://web.archive.org/web/20221230221215/https://math.mit.edu/research/highschool/primes/testimonials/t-Ellison.php |url-status=live }} She graduated in 2012 with a National Merit Scholarship.{{Cite web |date=2012-06-08 |title=Graduation Special by The Newtonite - Issuu |url=https://issuu.com/newtonite/docs/graduation_special |access-date=2024-05-02 |website=issuu.com |language=en}}

Ellison graduated from Stanford University in 2016 with a bachelor's degree in mathematics.{{Cite web |last=Butcher |first=Sarah |date=10 November 2022 |title=CEO of Alameda Research is a 28-year-old Harry Potter fan |url=https://www.efinancialcareers.com/news/2022/11/caroline-ellison-alameda-research-ftx-sam-bankman-fried |access-date=12 November 2022 |website=eFinancialCareers |archive-date=12 November 2022 |archive-url=https://web.archive.org/web/20221112004049/https://www.efinancialcareers.com/news/2022/11/caroline-ellison-alameda-research-ftx-sam-bankman-fried |url-status=live }}{{Cite Q|Q115301476|access-date=20 November 2022}} While at Stanford, she scored in the top 500 students in the 2013, 2014, and 2015 Putnam Competitions.{{Cite web |title=2013 Putnam Competition Results |date=8 August 2014 |access-date=25 November 2022 |url=https://mathematics.stanford.edu/news/2013-putnam-competition-results |publisher=mathematics.stanford.edu |archive-date=28 November 2022 |archive-url=https://web.archive.org/web/20221128122239/https://mathematics.stanford.edu/news/2013-putnam-competition-results |url-status=live }}{{Cite web |title=2014 Putnam Competition Results |date=16 May 2015 |access-date=25 November 2022 |url=https://mathematics.stanford.edu/news/2014-putnam-competition-results |publisher=mathematics.stanford.edu |archive-date=26 November 2022 |archive-url=https://web.archive.org/web/20221126011406/https://mathematics.stanford.edu/news/2014-putnam-competition-results |url-status=live }}{{Cite web |title=2015 Putnam Competition Results |date=19 May 2016 |access-date=25 November 2022 |url=https://mathematics.stanford.edu/news/2015-putnam-competition-results |publisher=mathematics.stanford.edu |archive-date=26 November 2022 |archive-url=https://web.archive.org/web/20221126011407/https://mathematics.stanford.edu/news/2015-putnam-competition-results |url-status=live }} As a freshman, Ellison developed an interest in effective altruism, a data-based philanthropic movement. She joined Stanford's effective altruism club and served as its vice president.{{cite news |last1=Yaffe-Bellany |first1=David |last2=Kelley |first2=Lora |last3=Metz |first3=Cade |date=23 November 2022 |title=She Was a Little-Known Crypto Trader. Then FTX Collapsed. |url=https://www.nytimes.com/2022/11/23/business/ftx-caroline-ellison-sbf.html |url-status=live |archive-url=https://web.archive.org/web/20221230191229/https://www.nytimes.com/2022/11/23/business/ftx-caroline-ellison-sbf.html |archive-date=30 December 2022 |access-date=29 December 2022 |work=The New York Times}}

While attending Stanford, Ellison began her career in quantitative trading with two internships at Jane Street, a proprietary trading firm in New York City.{{cite news |last1=De Vynck |first1=Gerrit |title=Caroline Ellison wanted to make a difference. Now she's facing prison. |url=https://www.washingtonpost.com/business/2023/01/02/caroline-ellison-ftx/ |access-date=4 January 2023 |newspaper=Washington Post |date=2 January 2023 |archive-date=4 January 2023 |archive-url=https://web.archive.org/web/20230104124557/https://www.washingtonpost.com/business/2023/01/02/caroline-ellison-ftx/ |url-status=live }} In September 2016, Ellison joined Jane Street full-time as an equities trader in a cohort mentored by Sam Bankman-Fried, who left the firm a year later to serve as director of development at the Centre for Effective Altruism in Berkeley, California.{{cite news |last1=Beltran |first1=Luisa |title=A closer look at Sam Bankman-Fried's Alameda Research and twentysomething CEO Caroline Ellison |url=https://fortune.com/2022/11/13/sam-bankman-fried-alameda-research-who-is-caroline-ellison/ |access-date=29 December 2022 |publisher=Fortune |date=November 13, 2022 |language=en |archive-date=25 December 2022 |archive-url=https://web.archive.org/web/20221225184327/https://fortune.com/2022/11/13/sam-bankman-fried-alameda-research-who-is-caroline-ellison/ |url-status=live }}{{cite news |last1=Revell |first1=Eric |title=Who is Caroline Ellison and how did she end up at center of FTX collapse? |url=https://www.foxbusiness.com/markets/who-caroline-ellison-how-did-she-end-up-center-ftx-collapse |access-date=29 December 2022 |publisher=Fox Business |date=November 20, 2022 |archive-date=29 December 2022 |archive-url=https://web.archive.org/web/20221229000139/https://www.foxbusiness.com/markets/who-caroline-ellison-how-did-she-end-up-center-ftx-collapse |url-status=live }}

Ellison and Bankman-Fried bonded over an interest in effective altruism and remained in contact. In February 2018, while visiting the San Francisco Bay Area, Ellison met Bankman-Fried for coffee, and he pitched her on joining Alameda Research, a cryptocurrency hedge fund co-founded in November 2017 by Bankman-Fried and effective altruism colleague Tara Mac Aulay. Ellison joined the following month.{{cite news |last1=Zuckerman |first1=Gregory |title=Early Alameda Staffers Quit After Battling Sam Bankman-Fried Over Risk, Compliance Concerns |url=https://www.wsj.com/articles/early-alameda-staffers-quit-after-battling-sam-bankman-fried-over-risk-compliance-concerns-11669810723 |access-date=30 December 2022 |publisher=The Wall Street Journal |date=November 30, 2022 |archive-date=30 December 2022 |archive-url=https://web.archive.org/web/20221230222710/https://www.wsj.com/articles/early-alameda-staffers-quit-after-battling-sam-bankman-fried-over-risk-compliance-concerns-11669810723 |url-status=live }} She said her "blind leap" was based on excitement over arbitraging cryptocurrencies and the potential to further her pursuit of earning to give. When she joined, Ellison had more experience than most of the other traders.{{cite news |last1=Hart |first1=Jordan |title=The unbelievably fast world of Caroline Ellison where 'someone suggests something' then 'an hour later and it's already happened' |url=https://www.businessinsider.com/caroline-ellison-took-blind-leap-join-fast-paced-ftx-2022-11 |access-date=30 December 2022 |publisher=Business Insider |date=November 20, 2022 |archive-date=30 December 2022 |archive-url=https://web.archive.org/web/20221230223246/https://www.businessinsider.com/caroline-ellison-took-blind-leap-join-fast-paced-ftx-2022-11 |url-status=live }} She became co-CEO along with Sam Trabucco in October 2021.{{Cite news |last=Miller |first=Hannah |date=2022-08-24 |title=Alameda Co-CEO Trabucco Steps Down From Crypto Trading Firm |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2022-08-24/alameda-co-ceo-trabucco-steps-down-from-crypto-trading-firm |access-date=2022-11-15}} She became the sole CEO of Alameda Research in August 2022 after Trabucco stepped down. Despite her position, Ellison received no equity in Alameda Research and only a 0.5% stake in FTX.{{cite news|last=Weiss|first=Ben|date=October 10, 2023|title=FTX was a boys' club. When Caroline Ellison asked Sam Bankman-Fried for equity in the hedge fund she ran, he said 'it was too complicated'|url=https://fortune.com/crypto/2023/10/10/caroline-ellison-ftx-sam-bankman-fried-sbf-equity-personal-loans-gary-wang-nishad-singh-ryan-salame/|url-status=live|work=Fortune|archive-url=https://web.archive.org/web/20231011023102/https://fortune.com/crypto/2023/10/10/caroline-ellison-ftx-sam-bankman-fried-sbf-equity-personal-loans-gary-wang-nishad-singh-ryan-salame/|archive-date=October 11, 2023|access-date=October 11, 2023}}

In November 2022, Ellison, together with Sam Trabucco, was listed on Forbes 30 Under 30,{{Cite web|url=https://www.forbes.com/30-under-30/2022/finance/|title=Forbes 30 Under 30 2022: Finance|website=Forbes|access-date=November 29, 2023}} a pick the publication regretted a year later, placing Ellison on its Hall of Shame, featuring ten picks it wished it could take back.{{Cite web|url=https://www.forbes.com/sites/forbesunder30team/2023/11/28/hall-of-shame-the-10-most-dubious-people-ever-to-make-our-30-under-30-list/|title=Hall Of Shame: The 10 Most Dubious People Ever To Make Our 30 Under 30 List|website=Forbes|access-date=November 29, 2023}}{{Cite web|url=https://www.theverge.com/2023/11/29/23980764/forbes-publishes-30-under-30-hall-of-shame|title=Forbes publishes 30 Under 30 "Hall of Shame."|first=Jon|last=Porter|date=29 November 2023|website=The Verge|access-date=November 29, 2023}} On 6 November 2022, after CoinDesk raised concerns about the balance sheet of Alameda Research and its relationship with FTX, Ellison said that the balance sheet information which had been released only included some of Alameda's assets and that the firm had more than $10 billion of additional assets.{{Cite news |last=Lang |first=Hannah |date=2022-11-08 |title=How Binance's plan to buy FTX unfolded in a matter of days |language=en |work=Reuters |url=https://www.reuters.com/markets/currencies/how-binances-plan-buy-ftx-unfolded-matter-days-2022-11-08/ |access-date=2022-11-12 |archive-date=12 November 2022 |archive-url=https://web.archive.org/web/20221112043353/https://www.reuters.com/markets/currencies/how-binances-plan-buy-ftx-unfolded-matter-days-2022-11-08/ |url-status=live }}{{Cite web |last=Sigalos |first=MacKenzie |date=10 November 2022 |title=Crypto billionaire Sam Bankman-Fried blames himself for FTX's collapse, admits he 'f---ed up' |url=https://www.cnbc.com/2022/11/10/crypto-billionaire-sam-bankman-fried-blames-himself-for-ftxs-collapse-admits-he-f-ed-up.html |access-date=2022-11-12 |website=CNBC |language=en |archive-date=12 November 2022 |archive-url=https://web.archive.org/web/20221112043641/https://www.cnbc.com/2022/11/10/crypto-billionaire-sam-bankman-fried-blames-himself-for-ftxs-collapse-admits-he-f-ed-up.html |url-status=live }} According to anonymous sources cited by The Wall Street Journal and The New York Times, Ellison was in a video meeting with employees on 9 November 2022; she admitted there that FTX had used customer money to help Alameda meet its liabilities and that she, Bankman-Fried, and two other FTX executives, Nishad Singh and Gary Wang, were aware of the circumstances.{{Cite Q|Q115184709|access-date=2022-11-14}}{{Cite news |last=Yaffe-Bellany |first=David |date=2022-11-14 |title=How Sam Bankman-Fried's Crypto Empire Collapsed |work=The New York Times |url=https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankman-fried-crypto-bankruptcy.html |access-date=2022-11-14 |archive-date=15 November 2022 |archive-url=https://web.archive.org/web/20221115002349/https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankman-fried-crypto-bankruptcy.html |url-status=live }} Ellison was terminated from her position by John J. Ray III after FTX, Alameda Research, and more than 100 related companies filed for Chapter 11 bankruptcy.

In December 2022, Ellison hired Stephanie Avakian{{cite news|first=Asher|last=Hawkins|date=June 28, 2010|url=https://www.forbes.com/2010/06/28/sec-revolving-door-personal-finance-regulators.html|title=SEC's Revolving Door Often Spins More Than Once|work=Forbes|access-date=15 December 2022|archive-date=15 June 2022|archive-url=https://web.archive.org/web/20220615032214/https://www.forbes.com/2010/06/28/sec-revolving-door-personal-finance-regulators.html|url-status=live}} of law firm WilmerHale as her lead attorney.{{Cite news|url=https://www.bloomberg.com/news/articles/2022-12-10/caroline-ellison-hires-sec-s-former-top-crypto-cop-for-ftx-probe|title=Caroline Ellison Hires SEC's Former Top Crypto Cop for FTX probe|newspaper=Bloomberg|date=10 December 2022|via=www.bloomberg.com|access-date=15 December 2022|archive-date=11 December 2022|archive-url=https://web.archive.org/web/20221211164116/https://www.bloomberg.com/news/articles/2022-12-10/caroline-ellison-hires-sec-s-former-top-crypto-cop-for-ftx-probe|url-status=live}} On December 18,{{Cite web |url=https://s3.documentcloud.org/documents/23495436/crypto-cooperator-ftx-alamedas-caroline-ellisons-plea-agreement-inner-city-press-on-the-case.pdf |title=United States v. Caroline Ellison, $2 22 Cr. 673 (RA) |access-date=22 December 2022 |archive-date=22 December 2022 |archive-url=https://web.archive.org/web/20221222141308/https://s3.documentcloud.org/documents/23495436/crypto-cooperator-ftx-alamedas-caroline-ellisons-plea-agreement-inner-city-press-on-the-case.pdf |url-status=live }}{{Cite web|url=https://news.yahoo.com/caroline-ellison-plea-agreement-250-062910768.html|title=Caroline Ellison Plea Agreement: $250,000 Bail, Surrender of Travel Documents, Forfeiture of Assets|website=Yahoo News|date=22 December 2022 |access-date=22 December 2022|archive-date=22 December 2022|archive-url=https://web.archive.org/web/20221222141307/https://news.yahoo.com/caroline-ellison-plea-agreement-250-062910768.html|url-status=live}} Ellison pleaded guilty in the Southern District of New York to conspiracy to commit wire fraud on customers of FTX, conspiracy to commit wire fraud on lenders of Alameda Research, wire fraud on lenders of Alameda Research, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering.{{Cite web |last=Michaels |first=Corinne Ramey and Dave |title=Caroline Ellison, Associate of FTX Founder Sam Bankman-Fried, Pleads Guilty to Criminal Charges |url=https://www.wsj.com/articles/two-associates-of-ftx-founder-sam-bankman-fried-plead-guilty-to-criminal-charges-prosecutors-say-11671676292 |access-date=2022-12-22 |website=WSJ |date=22 December 2022 |language=en-US |archive-date=22 December 2022 |archive-url=https://web.archive.org/web/20221222025809/https://www.wsj.com/articles/two-associates-of-ftx-founder-sam-bankman-fried-plead-guilty-to-criminal-charges-prosecutors-say-11671676292 |url-status=live }}{{Cite news |last1=Yaffe-Bellany |first1=David |last2=Goldstein |first2=Matthew |last3=Weiser |first3=Benjamin |date=2022-12-22 |title=Two Executives in Sam Bankman-Fried's Crypto Empire Plead Guilty to Fraud |language=en-US |work=The New York Times |url=https://www.nytimes.com/2022/12/21/technology/ftx-fraud-guilty-pleas.html |access-date=2022-12-22 |issn=0362-4331 |archive-date=22 December 2022 |archive-url=https://web.archive.org/web/20221222025805/https://www.nytimes.com/2022/12/21/technology/ftx-fraud-guilty-pleas.html |url-status=live }} On that day, FTX co-founder Gary Wang also pleaded guilty to several charges. A transcript of her plea hearing was unsealed on December 23, revealing she had admitted to judge Ronnie Abrams that she and others conspired to steal billions of dollars from customers of FTX while misleading its investors and lenders.{{cite web |title=Caroline Ellison Apologizes for Misconduct in FTX Collapse |url=https://www.wsj.com/articles/caroline-ellison-apologized-for-misconduct-in-ftx-collapse-11671818789?mod=hp_lead_pos7 |website=The Wall Street Journal | date=23 December 2022 |access-date=23 December 2022 |archive-date=23 December 2022 |archive-url=https://web.archive.org/web/20221223181355/https://www.wsj.com/articles/caroline-ellison-apologized-for-misconduct-in-ftx-collapse-11671818789?mod=hp_lead_pos7 |url-status=live | last1=Ramey | first1=Corinne | last2=Fanelli | first2=James }}{{Subscription required}} Ellison told Judge Abrams that Sam Bankman-Fried and other FTX executives had received billions of dollars in secret loans from Alameda Research.{{cite news |title=Alameda's ex-CEO tells judge she hid billions in loans to FTX execs |url=https://www.reuters.com/legal/alamedas-ex-ceo-tells-judge-she-hid-billions-loans-ftx-execs-2022-12-23/ |website=Reuters |date=23 December 2022 |access-date=23 December 2022 |last1=Cohen |first1=Luc |last2=Hals |first2=Tom |last3=Cohen |first3=Luc |last4=Hals |first4=Tom |archive-date=23 December 2022 |archive-url=https://web.archive.org/web/20221223174214/https://www.reuters.com/legal/alamedas-ex-ceo-tells-judge-she-hid-billions-loans-ftx-execs-2022-12-23/ |url-status=live }} As a part of her plea deal, she agreed to make restitution of an amount to be decided by the courts.{{cite news |title=Caroline Ellison, the former CEO of Alameda, pleads guilty to charges that carry up to 110 years in prison following FTX collapse |url=https://www.businessinsider.com/caroline-ellison-faces-110-years-in-prison-after-guilty-plea-2022-12/ |website=Business Insider |date=21 December 2022 |access-date=2 September 2023 |last=Teh |first=Cheryl |archive-date=25 September 2023 |archive-url=https://web.archive.org/web/20230925122153/https://www.businessinsider.com/caroline-ellison-faces-110-years-in-prison-after-guilty-plea-2022-12 |url-status=live }}

In October 2023, Ellison testified for the prosecution in the fraud trial of Bankman-Fried.{{Cite news |last1=Godoy |first1=Jody |last2=Cohen |first2=Luc |last3= |first3= |last4= |first4= |date=2023-10-12 |title=Sam Bankman-Fried trial: Key moments from Caroline Ellison's testimony |language=en |work=Reuters |url=https://www.reuters.com/legal/five-key-moments-caroline-ellisons-testimony-bankman-fried-trial-2023-10-12/ |access-date=2023-12-05}}

On 24 September 2024 Ellison was sentenced to serve two years in prison and ordered to forfeit $11 billion to the court.{{Cite news |last1=Zauzmer Weil |first1=Julie |last2=Ziegler |first2=Hannah |last3=Jacobs |first3=Shayna |last4= |first4= |date=2024-09-24 |title=Caroline Ellison, key witness in Bankman-Fried trial, sentenced to prison |language=en |newspaper=Washington Post |url=https://www.washingtonpost.com/business/2024/09/24/caroline-ellison-sentencing-sbf/ |access-date=2024-09-24}}{{cite news |url=https://www.cnbc.com/2024/09/24/sam-bankman-fried-caroline-ellison-sentenced-ftx-.html |title=FTX fraudster Caroline Ellison sentenced to 2 years in prison, ordered to forfeit $11 billion |work=CNBC |date=24 September 2024 |first1=MacKenzie |last1=Sigalos |first2=Dan |last2=Mangan |first3=Dawn |last3=Giel |access-date=22 October 2024}}{{cite news |url=https://www.bbc.co.uk/news/articles/cdd4e2931q3o |title=Caroline Ellison sentenced to two years for role in FTX crypto fraud |work=BBC News |date=24 September 2024 |access-date=22 October 2024}} Ellison commenced her sentence at a prison in Connecticut in early November 2024.{{cite news |url=https://www.cnbc.com/2024/11/07/ftxs-caroline-ellison-reports-to-prison-to-begin-2-year-sentence.html |title=FTX fraudster Caroline Ellison reports to Connecticut prison to begin 2-year sentence |work=CNBC |date=7 November 2024 |first1=MacKenzie |last1=Sigalos |first2=Dawn |last2=Giel |access-date=10 November 2024 }} In December 2024, The Washington Post reported Ellison's sentence has been reduced by a few months, with the release date now in July 2026.{{cite news |last1=Najmabadi |first1=Shannon |date=26 December 2024 |title=2 former FTX executives get time trimmed off their prison sentences |url=https://www.washingtonpost.com/business/2024/12/26/2-former-ftx-executives-get-time-trimmed-off-their-prison-sentences/ |access-date=27 December 2024 |newspaper=Washington Post}}

Unspecified former employees reported accounts about a romantic relationship with colleague Sam Bankman-Fried.{{cite news |last1=Read |first1=Bridget |date=November 19, 2022 |title=Was Caroline Ellison a Main Character or the Fall Girl? |url=https://nymag.com/intelligencer/2022/11/caroline-ellison-alameda-ftx.html |url-status=live |archive-url=https://web.archive.org/web/20221229000138/https://nymag.com/intelligencer/2022/11/caroline-ellison-alameda-ftx.html |archive-date=29 December 2022 |access-date=29 December 2022 |publisher=Intelligencer |language=en-us}}{{cite news |last1=Guarino |first1=Mark |title=FTX's Sam Bankman-Fried on crypto giant's collapse: 'A lot of people got hurt. And that's on me' |url=https://abcnews.go.com/Business/ftxs-sam-bankman-fried-denies-improper-customer-funds/story?id=94233125 |access-date=7 January 2023 |issue=December 1, 2022 |publisher=ABC News |language=en |quote=In the interview, Bankman-Fried also denied he witnessed any illegal drug use by FTX employees, and he said reports that he and Ellison were in a polyamorous relationship are false and his romantic relationship with Ellison lasted only six months. |archive-date=6 January 2023 |archive-url=https://web.archive.org/web/20230106172539/https://abcnews.go.com/Business/ftxs-sam-bankman-fried-denies-improper-customer-funds/story?id=94233125 |url-status=live }} Business Insider said that Ellison's alleged relationship with Bankman-Fried was singled out by CoinDesk.{{Cite Q|Q115293164|access-date=2022-11-19|quote=He was at times romantically involved with Caroline Ellison, the 28-year-old CEO of his trading firm, Alameda Research, according to former employees.}}{{cite news |work=Business Insider |url=https://www.businessinsider.com/ftx-inner-circle-all-dated-each-other-in-bahamas-report-2022-11 |title=FTX's crypto empire was reportedly run by a bunch of roommates in the Bahamas who dated each other, according to the news site that helped trigger the company's sudden collapse |quote=Among the named members of Bankman-Fried's inner circle were Caroline Ellison, Alameda's current CEO. Ellison was the only employee CoinDesk singled out for having reportedly dated Bankman-Fried at one point, but no other specific past or present relationships were disclosed. |date=November 11, 2022 |first=Lakshmi |last=Varanasi |access-date=13 November 2022 |archive-date=19 November 2022 |archive-url=https://web.archive.org/web/20221119115552/https://www.businessinsider.com/ftx-inner-circle-all-dated-each-other-in-bahamas-report-2022-11 |url-status=live }} Bankman-Fried told Good Morning America his relationship with Ellison was brief.{{cite news |last1=Mok |first1=Aaron |title=Sam Bankman-Fried didn't mention Alameda ex-CEO Caroline Ellison in his first video interview since FTX collapse |url=https://www.businessinsider.com/sam-bankman-fried-avoids-mentioning-caroline-ellison-name-nyt-interview-2022-12 |access-date=7 January 2023 |publisher=Business Insider |date=December 1, 2022 |archive-date=1 January 2023 |archive-url=https://web.archive.org/web/20230101034136/https://www.businessinsider.com/sam-bankman-fried-avoids-mentioning-caroline-ellison-name-nyt-interview-2022-12 |url-status=live }} Ellison, Bankman-Fried, and several friends and coworkers were still cohabitating in a penthouse apartment when FTX collapsed.Mackenzie Sigalos, "Inside Sam Bankman-Fried's $35 million crypto frat house in the Bahamas," CNBC, Oct 10, 2023 https://www.cnbc.com/2023/10/10/inside-sam-bankman-frieds-35-million-crypto-frat-house-in-bahamas.html

Ellison, along with FTX senior employees, contributed to the FTX Foundation's Future Fund, which planned to fund philanthropic endeavors, before ceasing operations when its own senior staff resigned. The staff cited inability to honor grants and concerns about the legitimacy of its funding, leaving some beneficiaries concerned as to whether they would have to return grant money.{{Cite web |last=Albrecht |first=Leslie |date=11 November 2022 |title=Sam Bankman-Fried's philanthropic fund halts donations amid FTX collapse and 'questions about legitimacy' |url=https://www.marketwatch.com/story/sam-bankman-frieds-philanthropic-fund-halts-donations-amid-ftx-collapse-and-questions-about-legitimacy-11668192531 |access-date=2022-11-12 |website=MarketWatch |language=EN-US |archive-date=12 November 2022 |archive-url=https://web.archive.org/web/20221112043354/https://www.marketwatch.com/story/sam-bankman-frieds-philanthropic-fund-halts-donations-amid-ftx-collapse-and-questions-about-legitimacy-11668192531 |url-status=live }}

• 2022: Named in Forbes 30 Under 30 – North America – Finance{{cite web |title=Finance |url=https://www.forbes.com/30-under-30/2022/finance |website=Forbes |access-date=30 December 2022 |archive-date=29 December 2022 |archive-url=https://web.archive.org/web/20221229000142/https://www.forbes.com/30-under-30/2022/finance/ |url-status=live }}
• 2023: Named in Forbes "Hall Of Shame" – North America – Finance{{Cite web|url=https://www.forbes.com/sites/forbesunder30team/2023/11/28/hall-of-shame-the-10-most-dubious-people-ever-to-make-our-30-under-30-list/|title=Hall Of Shame: The 10 Most Dubious People Ever To Make Our 30 Under 30 List|website=Forbes|access-date=November 29, 2023}}{{Cite web|url=https://www.theverge.com/2023/11/29/23980764/forbes-publishes-30-under-30-hall-of-shame|title=Forbes publishes 30 Under 30 "Hall of Shame."|first=Jon|last=Porter|date=29 November 2023|website=The Verge|access-date=November 29, 2023}}

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Category:1994 births

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