FTX Executive Caroline Ellison Resurfaces as 'Carol' in Charity Role

Caroline Ellison, the former Alameda Research CEO who pleaded guilty in the FTX fraud that cost customers $8 billion, has resurfaced after two years in prison. She is now working for a charity under the alias “Carol”.

Manifund cofounder Austin Chen revealed on Friday that Ellison has become a full-time employee. Manifund is a nonprofit grant platform focused on effective altruism and artificial intelligence safety. The organization promises transparency by making its finances, data, and source code publicly available.

A Transparency Pledge and a Hidden Hire

Ellison reportedly began a work trial on July 13 and moved into a full-time position on August 10. During both months, she posted updates and handled user support while using the name Carol.

BREAKING: Caroline Ellison has been hired by Manifund, a nonprofit grant marketplace pic.twitter.com/4G3Rjgw3NV

— TBPN (@tbpn) September 11, 2026

Chen apologized for the pseudonym while standing by the hiring choice. His reasoning centers on giving people a second chance rather than on Ellison's professional background.

“I believe in redemption. Caroline has admitted her faults, worked to make creditors whole, and served her time in prison,” he wrote.

He also credits the FTX Future Fund, the philanthropic arm of the former exchange, for funding his early projects and influencing how Manifund allocates grants.

Her practical value lies in accounting. Chen noted that she built a reconciliation tool that uncovered misregistered transactions worth amounts in the six-figure range. Alameda’s own records hid roughly $8.7 billion in missing customer deposits.

A New Life for Caroline Ellison Beyond FTX

The Commodity Futures Trading Commission (CFTC) closed her civil case on August 19, as BeInCrypto reported. Ellison accepted a five-year trading ban and a 10-year registration ban with no additional financial penalty.

Regulators pointed to her cooperation and to an existing $11.02 billion criminal forfeiture order.

A separate Securities and Exchange Commission (SEC) order bars her from serving as an officer or director at public companies, a restriction noted when she left prison in January. Working for a nonprofit falls outside that ban.

Meanwhile, FTX’s estate continues to face legal challenges. On the same day, the recovery trust asked a Delaware judge to block two claimants from reviving old fraud arguments to seek additional payouts.

The trust has already distributed over $11 billion to creditors under a plan designed to resolve those claims collectively. The dispute is scheduled to resume on October 20.