It seems like Caroline Ellison has emerged from stealth mode.
A nonprofit CEO introduced Friday that he secretly gave a job to Ellison — who went to jail in reference to fraud by Sam Bankman-Fried’s crypto change.
Austin Chen, the founding father of Manifund, a grantmaker tied to the effective altruism motion, wrote on Substack that Ellison, 31, will develop its platform and analysis “learn how to successfully direct philanthropic {dollars}.”
Within the submit, Chen framed the hiring as a second likelihood for Ellison.
“I imagine in redemption,” he wrote. “Caroline has admitted her faults, labored to make collectors complete, and served her time in jail. I might like to present her the chance to contribute again to the world; I hope that the world will concur.”
Manifund started as a charitable facet challenge of Manifold Markets, a prediction market firm cofounded by Chen. Manifold was beforehand backed by FTX Future Fund, a philanthropic initiative, which Chen famous within the weblog.
Chen confirmed the information in a short textual content message to Enterprise Insider. He didn’t present documentation of Ellison’s new position. Ellison couldn’t be reached for remark.
The weblog contained a message in Ellison’s title.
“I am deeply sorry for what I did, and I fully perceive why folks might not need to work with me,” it stated. “However I am very grateful to Austin for giving me a second likelihood, and judging me on my present work efficiency relatively than my previous. I really feel very fortunate not solely to have a job, however to be working someplace that I believe is doing nice work and has a mission I imagine in.”
Ellison beforehand led Alameda Analysis, FTX’s affiliated crypto buying and selling agency. In December 2022, she pleaded responsible to seven counts of fraud and conspiracy in connection together with her position within the misuse of FTX customer funds to cowl Alameda’s money owed and buying and selling losses.
Ellison testified in opposition to FTX founder Sam Bankman-Fried and was sentenced to 2 years in jail. She was released from federal custody in January and had been conserving a low profile.
Chen wrote that he invited Ellison to Manifest 2026, a pageant the nonprofit held in June. She began a “work trial” on July 13 earlier than changing to full-time on August 10, he stated.
Throughout that interval, she had been publishing her work for Manifund beneath the pseudonym “Carol,” he stated.
“I apologize for our minor deception, in utilizing a pseudonym during the last couple months,” he wrote. “I nonetheless endorse having accomplished this — I believe it is comparatively widespread to work with folks pseudonymously, when their actual id is legendary. However I need to name out that we compromised on transparency right here, which I don’t take calmly.”
Feedback left on the submit confirmed a mixture of backlash and assist.
One commenter wrote: “I like a world the place we normalize forgiveness and deep understanding of one another past sizzling takes and headlines. Hope the collaboration works out properly!”
One other stated that “this reveals actually horrible judgment and is prone to hurt the fame not solely of Manifund however of all kinds of EA orgs that may take collateral harm.”
Chen responded, partly: “Clearly, I hope to be confirmed proper about this determination, however that will take some time to shake out.”
An individual who stated they misplaced cash within the FTX debacle expressed fury. “Each greenback she earns for the subsequent 70 years ought to be garnished and despatched to victims like myself and 1000’s of my pals,” he wrote.