Caroline Ellison, the former Alameda Research CEO who served prison time for her role in the FTX collapse, has taken a full-time technical role at the effective altruism nonprofit Manifund. Founder Austin Chen defended the hire as a "second chance," though he apologized for letting Ellison work under the pseudonym "Carol" for her first two months. The appointment has sparked intense debate, with critics calling it terrible judgment that threatens the reputation of philanthropic organizations.
Ellison Manifund employment
- ▪Former Alameda Research CEO Caroline Ellison has taken a full-time role at the nonprofit grant platform Manifund to develop its funding platform and research philanthropic effectiveness
- ▪At Manifund, Caroline Ellison is responsible for technical infrastructure, logistics, and customer support, and she recently built a reconciliation tool that identified misreported database transactions worth five to six figures
- ▪Caroline Ellison began a work trial at Manifund on July 13, 2026, transitioned to a full-time role on August 10, 2026, and worked under the pseudonym "Carol" during her first two months
Regulatory restrictions compliance
- ▪The Commodity Futures Trading Commission closed Caroline Ellison's civil case on August 19, 2026, imposing the trading and registration bans without additional fines due to her cooperation and an existing $11.02 billion criminal forfeiture
- ▪Caroline Ellison's employment at Manifund does not violate her regulatory restrictions, which include a 10-year officer and director bar from the SEC and a 5-year trading ban and 10-year registration bar from the CFTC
Manifund FTX ties
- ▪Manifund cofounder Austin Chen acknowledged a "keen debt" to the FTX Future Fund, which backed the initial Manifold initiative and provided the concepts upon which Manifund is based
- ▪Manifund, which focuses on effective altruism and artificial intelligence safety projects, began as a charitable side project of the prediction market company Manifold Markets
Redemption framing
- ▪Caroline Ellison expressed gratitude to Austin Chen for giving her a second chance and judging her on current work performance rather than her past involvement with FTX
- ▪Manifund cofounder Austin Chen defended hiring Caroline Ellison by stating he believes in redemption, noting that she admitted her faults, worked to make creditors whole, and served her prison time
Public reaction transparency concerns
- ▪Manifund cofounder Austin Chen apologized for the "minor deception" of using the pseudonym "Carol" for Caroline Ellison, admitting that the organization compromised on its core principle of transparency
- ▪Former Astera Institute CEO Cate Hall criticized the hiring of Caroline Ellison, calling the decision "truly terrible judgment" that could harm the reputation of Manifund and other effective altruism organizations
Debatable claims
- ▪Manifund's decision to hire Caroline Ellison is justified
- ▪Manifund's use of a pseudonym for Caroline Ellison was acceptable
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