Many have show interest in the new worth of Caroline Ellison after the news about her fraudulent activities with Bankman-Fried.
Who is Caroline Ellison?
Caroline Ellison is the daughter of two Massachusetts Institute of Technology economics scholars, Ellison was a high achiever, taking part in maths competitions throughout high school and college.
She graduated from Stanford University and began working as a quantitative trader at US trading firm Jane Street, where Bankman-Fried was also working.
Like him, she had grown interested during college in the effective altruism movement, which promotes data-driven philanthropy and encourages talented young people to take high-earning jobs and give generously to meaningful causes.
Bankman-Fried left in 2017 to found Alameda.
She told the FTX podcast she decided to join Bankman-Fried at Alameda despite lacking experience with cryptocurrencies to “maximise my impact”.
Bankman-Fried installed Ms. Ellison as chief executive at Alameda, where she was paid $310,000 in salary with her biggest bonus of $31 million occurring in 2021.
The two were also on-and-off romantic partners and together in a luxury penthouse in the Bahamas.
She told the court they were in a romantic relationship in summer 2020.
After a break-up, they resumed the relationship in autumn 2021 before breaking up for good in spring 2022, she said.
Why is Caroline Ellison in the news?
Caroline Ellison is trending after she testified against Sam Bankman-Fried, telling the court he directed her to commit fraud. Sam Bankman-Fried was the founder of crypto currency exchange called FTX which, at one point, was the second-largest cryptocurrency exchange in the world.
He also ran a hedge fund called Alameda Research.
The 31-year-old was one of the world’s wealthiest people on paper, with an estimated net worth of $32 billion, when his cryptocurrency businesses collapsed last November. Bankman-Fried was accused of stealing billions of dollars in FTX customer funds to plug losses at Alameda Research.
He was later arrested in the Bahamas, extradited to the US, and is now facing eight criminal charges, including wire fraud, money laundering, and conspiracy to commit fraud on the United States. He has pleaded not guilty, and FTX unravelled when a run on deposits and falling crypto prices left the company with a $US8 billion ($11 billion) shortfall.
Net worth of Caroline Ellison
It is estimated that Ellison’s net worth was around $15 million as of November 2022.
However, it might have been impacted by the demise of FTX and its connections to Alameda.
Working in the bitcoin industry was how Caroline Ellison made her money.
She acquired new duties after being elevated to CEO of Alameda in August 2022 through her appointment.
The post Caroline Ellison Net Worth: How Much Is She Worth? appeared first on GhBase•com™-Everything & News Now.
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