Former Alameda CEO Was Reportedly 'Relieved' to Leave The Firm

Caroline Ellison may leave Alameda as the FTX collapse was so chaotic.
As per the FT report, Ellison felt “relieved” by an end to the chaos at FTX and Alameda.

The recent Financial Times reports states an end of FTX followed a destabilizing exodus of customers and employees. While the last-ditch efforts seemed to have failed, Caroline Ellison, Alameda CEO reportedly felt “relieved” at an end to the chaos.

In the final days of the now-bankrupt crypto exchange, FTX were so swift and disorienting as the customers withdrew funds and staff fled its Bahamas offices, Ellison was reportedly “relieved” when the scrambling came to an end.

The founder of FTX Sam Bankman-Fried failed to get the investors to keep his crypto exchange afloat, and a possible deal with one of the crypto exchanges flopped, his co-executives, including Caroline Ellison, found themselves flailing in vain to fix the damage.

Ellison was the CEO of Bankman-Fried’s other company, the crypto hedge fund Alameda Research. According to an account by a colleague to FT, Ellison was reportedly “relieved” when it finally ended, and had “felt a little trapped” by the company.

Meanwhile an attorney for Ellison did not respond over this matter.

According to the report, During those final days leading to FTX’s bankruptcy filing in November last year, Bankman-Fried fielded harried messages from Bahamian officials and panicked questions from staff. Although the top representatives like Ellison, FTX cofounder Gary Wang, and others handled the logistics of the downfall.

After the sudden collapse of FTX pushed to multiple parallel US government investigations, FTX’s Chapter 11 filing in Delaware, as well as civil and criminal charges against top representatives of FTX and Alameda including Bankman-Fried, Ellison, and Wang.

The Federal prosecutors in New York have hit all these three top representatives with fraud and conspiracy charges. While Ellison and Wang struck plea deals and are now cooperating with the U.S. government, Bankman-Fried has pleaded not guilty and is awaiting trial.

Bankman-Fried faces a hefty prison sentence if convicted, could still potentially reach a deal with prosecutors ahead of his trial, which is currently scheduled for October. In between all this, there are still questions about how the similar criminal cases could affect FTX customers trying to recover funds via the bankruptcy.

The FTX Lawyers and its creditors had previously told a Delaware bankruptcy court that they were trying to get information about transactions including FTX from insiders including Bankman-Fried and Ellison, but hadn’t gotten any clarifications.

On the other hand, earlier this week Alameda Research wallets reactivated and transferred millions in FTX tokens. This raised the concerns over post-FTX bankruptcy wallet access. However the key source of these funds and the process as to how they were accessed now become a high point of concern. It is also raising questions on the actions of law enforcement agencies.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing