Meet Caroline Ellison, ex-girlfriend of Sam Bankman-Fried

Caroline Ellison – the 28-year-old CEO of crypto firm Alameda Research – is facing scrutiny not only about the company’s multibillion-dollar crisis, but also about rumors that she is the ex-girlfriend of disgraced FTX founder Sam Bankman-Fried.

Ellison and Bankman-Fried were part of a “cabal of roommates” based in a “luxury penthouse” in the Bahamas who were behind the machinations at FTX and Alameda, according to the bombshell report. by CoinDesk. Alameda is one of approximately 130 FTX Group affiliates included in Chapter 11 filed for bankruptcy last week.

The housemate was reportedly a former classmate of Bankman-Fried at the Massachusetts Institute of Technology and a former colleague at quantitative trading firm Jane Street.

The relationship between the group of 10 insiders was not strictly business – members of the inner circle “are, or used to be, paired up in a romantic relationship with each other,” said the report.

Caroline Ellison
A “cabal of roommates” reportedly controlled FTX and Alameda.
Twitter / @carolinecapital

Ellison and Bankman-Fried have occasionally dated while running the now bankrupt cryptocurrency empire – the value of which went from an estimated $32 billion at its peak to effectively zero below the rapid decline.

“This whole operation is run by a gang of boys in the Bahamas,” a person familiar with the matter told CoinDesk.

“They would do anything for each other,” another source told the outlet.

A native of Boston, Ellison graduated from Stanford University and worked as a vendor on Jane Street before becoming involved with FTX and Alameda.

With the company’s shutdown underway, social media users are pouring in old interviews — including now-viral podcast appearance from July 2020, in which Ellison describes his childhood obsession with the Harry Potter books and his affinity for LARPing – where participants dress up and portray fictional characters.

Caroline Ellison
Social media users are digging Caroline Ellison’s old podcast appearance.

“I was pretty obsessed with Harry Potter as a kid,” Ellison said. “I started, I was 3 when the first book came out, my parents read it to me, and when I was 5, the second book came out, I refused to wait for my parents to read it, so I read it myself. .”

Ellison did not tweet since November 9 and has yet to address the bankruptcy.

Caroline Ellison
Ellison graduated from Stanford University.
Twitter / @carolinecapital

current and former employees at FTX in Alameda told CoinDesk that Bankman-Fried and his circle of friends effectively ran wild, with little oversight and a major conflict of interest that sparked alarm among workers.

Aside from Ellison and Bankman-Fried, other “roommates” in the Bahamas include FTX co-founder and Chief Technology Officer Gary Wang and Director of FTX Engineering Nishad Singh.

Employees also said they were told little about what happened at the top levels of cryptocurrency firms as they headed toward bankruptcy.

“Gary, Nishad and Sam control the code, the exchange’s matching engine and funds,” said one of CoinDesk’s sources. “If they moved them or entered the numbers themselves, I’m not sure who would notice.”

Ellison and Bankman-Fried did not respond to CoinDesk’s request for comment.

The Post has reached out to FTX for comment. The Alameda Research website appears to be offline.

Alameda has a deep link to FTX’s collapse – which accelerated after CoinDesk reported that the cryptocurrency hedge fund was heavily invested in FTT, the token issued by FTX.

Caroline Ellison
Caroline Ellison has not tweeted since Nov. 9.

Somewhere between $1 billion and $2 billion of client funds have disappeared since the collapse of FTX, according to Reuters. Bankman-Fried allegedly “secretly transferred $10 billion in customer funds” from FTX to Alameda — money that was used to finance the company’s risky trades.

Bankman-Fried told Reuters he “disagrees with the characterization” of the $10 billion transferred fund.

“We’re not secretly moving,” Bankman-Fried said. “We have confusing and misread internal labeling.”

Caroline Ellison
Caroline Ellison is the CEO of Alameda Research.
Twitter / @carolinecapital

Earlier this week, Bankman-Fried put up her penthouse at the exclusive Albany resort in the Bahamas for sale for almost $40 million.

But insiders say all of FTX’s top brass have homes in place – it’s unclear how many properties will be listed in the coming days.

The Albany Club – the most exclusive resort community in the Bahamas that boasts members including Tiger Woods and Justin Timberlake – has also gotten stuck in the crosshairs.

Sam Bankman-Goreng and Gisele Bundchen
Sam Bankman-Fried lost his entire fortune during FTX’s collapse.
Joe Schildhorn /

This neighborhood is intended to cater to “a new breed of global elite,” according to comments made by Albany partner Jason Callender a few years ago.

But over the weekend, Albany Club General Manager Damien Michelmore emailed residents with an update that fellow company member Sam Bankman-Fried “FTX filed for bankruptcy” and instructed residents not to speak to the press.

“Out of respect we offer to all homeowners and members, we have instructed our employees not to speak to the press, and we respectfully ask fellow members and homeowners not to provide any comments at this time,” added Michelmore.

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