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FollowingCaroline Ellison joins Manifund after serving her sentence in FTX fraud
On September 11, Manifund co-founder Austin Chen announced that Caroline Ellison, former CEO of Alameda Research, has officially joined the nonprofit funding platform. Ellison began his probationary period on July 13 and formally accepted a full-time position on August 10.
During her first two months, Ellison published work and supported users under the pseudonym "Carol." Her responsibilities cover platform development, operations and customer support. Chen said Ellison will help develop the organization's funding platform and study how to effectively allocate charitable resources. Manifund connects donors to projects through grants and other financing mechanisms.
Technical Roles and Early Contributions
One of Ellison's early tasks was to build reconciliation tools. According to Chen, the tool identified incorrectly recorded transactions involving five and six digits in the database. Ellison said she plans to continue to improve the technology infrastructure and assist users, and plans to publish updates through the nonprofit organization's newsletter.
Background and controversy
The appointment came after her involvement in the FTX fraud case. In December 2022, Ellison pleaded guilty to fraud and conspiracy and cooperated with prosecutors. Her testimony helped prosecutors successfully convict FTX founder Sam Bankman-Fried, who was sentenced to 25 years in prison. Ellison began serving two years in November 2024 and was released in January 2026.
Disclosure about the use of aliases raised questions about transparency. Chen saw hiring Ellison as an opportunity to turn over a new leaf, citing her admission of mistakes and job performance, and said: "I believe in redemption." However, he admitted that concealing his identity conflicts with the group's commitment to transparency and apologized for using a pseudonym while defending its temporary use.
Ellison explained that she initially wanted to avoid announcing a probationary position that might not be converted to permanent. She apologized for her behavior in Alameda and FTX and thanked Chen for giving her another chance. The announcement also drew criticism in the comment section, with Cate Hall calling the hiring decision a "really bad judgment" and warning it could damage the reputation of effective altruistic organizations.
