Ex-Alameda CEO Caroline Ellison’s Google Docs Diary Exposes Struggles Prior to FTX Collapse

According to the New York Times and a number of other sources acquainted with the matter, Caroline Ellison, former CEO of Alameda Research, maintained a diary on Google Documents that gives a short glimpse into the challenges she confronted earlier than the collapse of FTX. Excerpts from the diary counsel Ellison lacked confidence in her position. After her breakup with Sam Bankman-Fried, FTX co-founder, her enthusiasm for Alameda “significantly decreased.”

Ellison Didn’t Think She Was Well Suited to Lead Alameda Research

Caroline Ellison, former CEO of Alameda Research, a quantitative buying and selling agency owned by Sam Bankman-Fried, reportedly maintained a diary on Google Documents. The New York Times, in a report dated July 20, 2023, confirmed with 4 individuals acquainted with the matter that the publication reviewed the paperwork.

Attorneys concerned within the case towards Bankman-Fried have allegedly circulated these Google paperwork in courtroom. Ellison’s diary offers perception into her private {and professional} life whereas working underneath the now-defunct FTX cryptocurrency empire.

In February 2022, Ellison expressed her dissatisfaction and overwhelmed emotions in regard to her job. “At the end of the day I can’t wait to go home and turn off my phone and have a drink and get away from it all,” she stated.

Diary excerpts observe a romantic relationship between she and Bankman-Fried, including a component of “weirdness” and inflicting “drama.” In one doc, Ellison additional defined her perception that she was not certified to function Alameda’s chief government. Ellison wrote:

Running Alameda doesn’t really feel like one thing I’m that comparatively advantaged at or effectively suited to do.

According to the report, when Bankman-Fried’s $32 billion empire collapsed, Ellison expressed aid that the chaos was ending. “I just had an increasing dread of this day that was weighing on me,” Ellison wrote. “Now that it’s actually happening it just feels great to get it over with.”

Ellison is scheduled to testify towards Bankman-Fried in his October trial, together with two different coworkers. In her testimony, printed in December 2022, she alleged that Bankman-Fried had instructed her to commingle buyer funds since 2019. Furthermore, it’s attainable that Ellison underperformed in her position on the quantitative buying and selling agency and should have held an FTX margin place that was negative $1.3 billion in May 2022.

What do you concentrate on Caroline Ellison’s alleged Google Documents diary excerpts? Share your ideas and opinions about this topic within the feedback part under.