As CEO of Alameda Research, Ms. Ellison took a leading role in helping Sam Bankman-Fried build the FTX empire
On a video call in early November, employees at Alameda Research dialed in to learn the fate of the trading firm, which was teetering on the brink.
It was up to Caroline Ellison to deliver the bad news. Alameda was at the center of Sam Bankman-Fried ‘s collapsing FTX empire. Ms. Ellison, who had just turned 28, was at the center of Alameda. And they were all in crisis.
Alameda and crypto exchange FTX were both the brainchild of Ms. Ellison’s friend Mr. Bankman-Fried, and he had picked her to help lead Alameda the year before. For a time, they rode the crypto wave together, with FTX eventually notching a blockbuster valuation of $32 billion. This month, it all came crashing down in a matter of days.
Another episode of empty rich kids doing bad.
