• Caroline Ellison, former CEO of Alameda Research, felt “unhappy and overwhelmed” with her job.
• Excerpts from her online diary revealed a troubled relationship between her and Sam Bankman-Fried (SBF).
• She wrote that SBF’s influence on the job led to decreased excitement for it, and she resorted to ghosting him in order to regain a sense of power.
Caroline Ellison Felt Unsuited To Run Alameda Amid SBF Relationship Drama
Caroline Ellison – former CEO of the fallen crypto trading desk Alameda Research – felt “unhappy and overwhelmed” with her job, and strongly doubted that she was well suited to the role, according to newly leaked excerpts from her online diary.
Boyfriend Pressure and Imposter Syndrome
Sam Bankman-Fried founded Alameda in 2017 and promoted Ellison to a co-CEO position in 2021, alongside Sam Trabucco. While Sam did not formally control Alameda’s operations, Ellison wrote in February 2022 that she had “an instinct to shrink and become smaller and quieter and defer to others” when he was around. After one of the couple’s many breakups, Ellison deliberately ghosted Bankman-Fried. “Not giving you the contact you wanted felt like the only way I could regain a sense of power,” she wrote in April.
Alameda was one of the few trading desks that seemingly flourished during FTX’s slump earlier this year; however its success was short-lived as it soon dissolved itself amid allegations by US regulators about conflicts of interest between Bankman-Fried’s exchanges (FTX) and trading desk (Alameda). In June 2022, Ellison resigned as CEO after coming under increased scrutiny due to these claims.
Leaked Diary Exposes Inner Thoughts
Someone leaked Caroline Ellison’s personal diary to the media. The excerpts shed light on many of her inner thoughts heading preceding FTX’s demise, including her troubled relationship with Sam Bankman-Fried (SBF).
The leak has provided invaluable insight into how Caroline truly felt about being involved with an exchange which came under such scrutiny by US regulators – leaving us all wondering what would have happened if Caroline had stayed with Alameda or not.