Caroline Ellison Joins Manifund In First Role Since FTX Cooperation

Caroline Ellison, former Alameda Research CEO, has joined nonprofit charity Manifund, cofounder Austin Chen announced Friday.

Chen revealed the appointment in a public announcement, marking Ellison's first known professional affiliation since her cooperation with federal prosecutors in the FTX fraud case. Ellison, who served as chief executive of Alameda Research, the trading firm founded by Sam Bankman-Fried, testified against her former boss and romantic partner during his trial, which concluded with his conviction on seven counts of fraud and conspiracy.

Manifund, a nonprofit platform cofounded by Chen, focuses on facilitating charitable giving through a marketplace model that connects donors with vetted projects. The organization operates as a donor-advised fund alternative, allowing contributors to browse and fund specific initiatives rather than making blanket donations to larger charities. Chen's announcement did not specify Ellison's exact title, the scope of her responsibilities, or her start date, leaving those details open.

Ellison's testimony in late 2023 was central to the government's case against Bankman-Fried. She admitted to directing Alameda's use of customer deposits from FTX and described a culture of reckless risk-taking at the firm. Her cooperation was cited by prosecutors as substantial, and she pleaded guilty in December 2022 to charges including wire fraud and money laundering. Her sentencing has been repeatedly postponed, most recently with no new date set, as she continues to assist authorities.