Caroline Ellison’s net worth nosedived following the collapse of FTX and her prosecution.
Caroline Ellison remains one of the most widely discussed figures in the aftermath of the FTX and Alameda Research collapse, with her name tied to one of the largest financial scandals in modern history. Her professional rise, subsequent downfall, cooperation with authorities, and current legal status have shaped public understanding of how FTX operated and how the company’s leadership handled billions of dollars in customer funds.
As of 2025, Ellison’s net worth has effectively collapsed, and she continues to be a central figure in regulatory and criminal investigations.
Early Life and Academic Background
Born in 1994, Caroline Ellison grew up in Massachusetts in an academically oriented family. Her parents were both economics professors, which helped expose her early to mathematical thinking, probability, and analytical decision-making.
She excelled in school and eventually enrolled at Stanford University, where she studied mathematics. Her academic performance and interest in quantitative problem-solving positioned her well for a future in high-level finance and quantitative trading.
Ellison graduated from Stanford in 2016 and entered the workforce at a time when cryptocurrency markets were beginning to accelerate into mainstream finance.
Early Career at Jane Street
After completing her degree, Ellison joined Jane Street, a global proprietary trading firm known for its selective hiring, intense internal training, and focus on quantitative strategies.
Jane Street is also where Ellison met Sam Bankman-Fried, who was working at the firm before he left to pursue his own ventures in cryptocurrency arbitrage and trading.
The two became acquainted not only through their work but also their mutual interest in effective altruism, a philosophy that encourages maximizing one’s positive impact by earning as much money as possible and donating it.
This similarity in worldview later influenced Ellison’s decision to follow Bankman-Fried into the then-nascent world of crypto hedge funds.
Joining Alameda Research
In 2018, Ellison left Jane Street and joined Alameda Research, the quantitative trading firm that Bankman-Fried had recently launched. Alameda was initially focused on arbitrage opportunities in cryptocurrency markets, including the famous “Kimchi premium” trades in South Korea and other cross-exchange price imbalances.
Ellison’s analytical skills and experience in fast-paced trading environments quickly made her one of the firm’s top traders. Over the next few years, she became part of Alameda’s small inner circle, working closely with Bankman-Fried and other early employees.
Rise to CEO
In 2021, Ellison was promoted to co-CEO of Alameda Research, sharing the leadership position with Sam Trabucco. The firm by then had become intertwined with FTX, the cryptocurrency exchange also founded by Bankman-Fried.
When Trabucco stepped down in 2022, Ellison became Alameda’s sole CEO. During her time in leadership, Alameda expanded its activities far beyond simple arbitrage and began taking on large, risky positions using borrowed funds.
Alameda’s deep financial entanglement with FTX, including the use of customer deposits for trading and investment activities, would ultimately lead to the company’s collapse.
Caroline Ellison Net Worth Before and After the Collapse
Before the implosion of FTX and Alameda in late 2022, Ellison had accumulated a significant paper net worth, largely tied to compensation packages and internal equity valuations within the FTX ecosystem.
However, unlike some other high-profile executives in cryptocurrency companies, Ellison did not hold large personal stakes in multiple entities. Her wealth was mostly dependent on the success of Alameda and, to a lesser extent, FTX.
Once the companies collapsed, any equity-based compensation became worthless.
By 2023, Ellison’s net worth had effectively fallen to near zero after the bankruptcy proceedings began and criminal investigations unfolded.
As of 2025, her net worth remains negligible, as she faces substantial legal fees and ongoing financial obligations tied to her cooperation agreement and federal sentencing process.
Cooperation With Authorities
Following the collapse of FTX in November 2022, Ellison quickly entered into a plea agreement with federal prosecutors. She pleaded guilty to multiple felony counts, including fraud and conspiracy charges related to the misuse of FTX customer funds.
Her testimony became a cornerstone of the government’s case against Sam Bankman-Fried, describing how Alameda used billions of dollars in customer assets to cover trading losses, make investments, and fund operations.
Her cooperation significantly reduced her potential prison exposure, though as of 2025, her final sentencing remains a key point of public attention.
Current Status in 2025
Caroline Ellison continues to live under legal restrictions as she awaits full sentencing following her cooperation with the Department of Justice. She remains one of the most prominent cooperating witnesses in modern financial fraud cases.
Her public appearances are limited, and she has largely stayed out of the media, focusing instead on fulfilling the terms of her plea deal.
Given the scale of the FTX collapse, Ellison is expected to face long-term professional limitations, and a return to high-level finance appears unlikely in the near future.
Legacy and Public Perception
Ellison’s story has become symbolic of the rapid rise and catastrophic fall of the crypto boom. On one hand, she is seen as a technically gifted trader who rose quickly in a young and unregulated industry. On the other, her role in the misuse of customer funds has linked her name permanently to one of the largest financial failures in history.
Her cooperation with prosecutors has shaped public debate about accountability and responsibility among FTX’s leadership, and her testimony continues to influence regulatory and legal discussions across the crypto industry.
