Caroline Ellison and her parents, Glenn Ellison, are enrolled in controversy over FTX's Collapse.
Caroline and Sam Bankman-Fried, 30, are now facing criminal charges in the Bahamas for the collapse of FTX.
DailyMial reported FTX founder and CEO Sam secretly moved $10 billion of customer funds from FTX to the trading firm Alameda Research, run by Caroline.
A large portion of that total has since vanished, while some say the missing amount is around $1.7 billion. The other stated that the difference was between $1 billion and $2 billion.
Although it is well known that FTX transferred customer funds to Alameda, this is the first time the missing funds have been mentioned.
The record shared with other senior executives last Sunday showed the financial gap.
Who Are Caroline Ellison's Parents?
Caroline Ellison is born to her parents, father Glenn Ellison and mother Sara Fisher Ellison, in the US.
Her father is an American economist, the Gregory K. Palm Professor of Economics at the Massachusetts Institute of Technology (MIT).
He is also an elected fellow of the American Academy of Arts & Sciences as well as the SAET. He held the Ford Career Development Associate Professor of Economics position from 1994 to 1997, before beginning his career at MIT.
MIT website suggests his current areas of interest in research to be game theory and industrial organization, both theoretical and practical.
He remained the Assistant Professor of Economics at Harvard University from 1992 to 1994 and Senior Associate at Charles River Associates from 1989.
In 1992, he earned his Ph.D. from the Massachusetts Institute of Technology and his M.Phil. in Economics from Cambridge University in 1988.
He graduated from Harvard College with honors in mathematics in 1987. Glenn has several publications and awards in his name.
He was honored with Wister Prize in Mathematics in 1987.
Similarly, her mother, Sara Fisher Ellison, is a Senior Lecturer in the MIT Economics Department. She has spent the majority of her career at MIT while also working as a visiting scholar at several renowned institutions.
Her research has looked into a variety of issues related to industrial organization, with a focus on e-commerce and the pharmacological sector.
She has conducted extensive research on a variety of topics related to the pharmaceutical industry, including the politics of pharmaceutical pricing, demand for similar products, and the strategic actions taken by pharmaceutical manufacturers.
As its faculty director, Sara oversees the department's DEDP MicroMasters and Masters programs. She currently sits on the editorial boards of three journals, IJIO, JIE, and RIO, related to industrial organization.
She attended Purdue University as an undergrad before earning graduate degrees from MIT and Cambridge University.
Caroline Ellison Is The CEO Of Alameda Research
Caroline Ellison is the CEO of Alameda Research, a trading company founded by Sam Bankman-Fried.
She is a Stanford University graduate with a degree in Mathematics. After her graduation, she joined Jane Street, a quantitative trading firm, as a junior trader for 19 months.
In March 2018, she relocated to Alameda Research, where she eventually became the company's CEO in August 2022.
She is currently under investigation for the multibillion-dollar collapse of the company. Furthermore, she is also linked to rumors that she was Sam Bankman-Fried, the discredited founder of FTX ex-girlfriend.
According to a shocking investigation by CoinDesk, Ellison and Bankman-Fried were part of a "cabal of roommates" running their crypto empire.
About 130 FTX Group affiliates, including Alameda, were listed in a Chapter 11 bankruptcy filing made last week.
The housemates are allegedly friends of Fried from MIT and ex-colleagues from the quantitative trading company Jane Street.
A person with knowledge of the situation told CoinDesk that "a gang of kids in the Bahamas ran the entire operation." According to the report, the 10 insiders had relationships that went beyond business.
While operating the now-bankrupt cryptocurrency empire, which had a value that dropped from roughly $32 billion at its peak to effectively zero after a sharp decline, Ellison and Bankman-Fried occasionally dated.
Prior to its collapse, FTX is said to have secretly transferred up to $US10 billion of customer funds to Alameda to finance risky cryptocurrency trades.
FTC is reported to have transferred up to $10 billion US dollars of customer funds to invest in cryptocurrency trades.
Caroline Ellison Is Accused Of Using FTX's Customers' Funds
The CEO of FTX's sister company Alameda Research, Caroline Ellison, is accused of using FTX customers' money for trading and causing the entire meltdown.
Sam is accused of moving $10 billion in funds to his trading company Alameda Research, and currently, $2 billion is missing.
Bankman-Fried expressed his "disagreement with the portrayal" of the $10 billion transfer.
We didn't transfer covertly, he said. Without further detail, he merely stated, "We had unclear internal markings and misread it." When questioned about the missing money, Bankman-Fried said: "???
The core of FTX's issues were losses at Alameda that most FTX managers were unaware of. The excel did not indicate where these funds were moved, and sources said they have no idea what happened to it.
CoinDesk reported Ellison shared a home in the Bahamas with Bankman-Fried and other eight other members of the companies' inner circles. They used to run the cryptocurrency empire from there. According to the report, the ten insiders were paired up romantically with one another.
As the firm collapsed, social media users combed through her old interviews to find old Tumblr posts that contained hints about the polycule theory.