Caroline Ellison Joins Manifund After Prison

Former Alameda Research CEO Caroline Ellison has joined effective altruism nonprofit Manifund in her first reported full-time role after leaving federal custody. She began a work trial on July 13 under the pseudonym “Carol” and became a full-time employee on August 10. Ellison developed a reconciliation tool that identified incorrectly recorded five- and six-figure transactions in Manifund’s database. She will help build the organisation’s fundraising platform and research how philanthropic capital should be allocated to artificial intelligence safety and effective altruism projects. The appointment has divided the effective altruism community. Critics cite reputational risk and question whether the role was publicly advertised. Manifund co-founder Austin Chen defended the decision by pointing to Ellison’s cooperation with authorities, assistance in recovering assets for creditors and potential for rehabilitation. Ellison said she hoped to be judged on her current work rather than her past. Ellison pleaded guilty to fraud and conspiracy charges linked to the FTX collapse in December 2022. She was sentenced to two years in September 2024, began serving the sentence in November and was released in January after 440 days. A separate Securities and Exchange Commission judgment bars her from serving as an officer or director of a public company for 10 years, but does not cover nonprofit roles. The Caroline Ellison appointment has no direct effect on cryptocurrency prices, but could renew debate over crypto governance, accountability and reputational risk.