Ellison's Redemption at Manifund Sparks Debate in Crypto Community

Caroline Ellison, the former CEO of Alameda Research who cooperated with prosecutors after FTX collapsed, has taken on a full-time role at Manifund, a nonprofit grant platform. Her new position involves technical infrastructure, logistics, and customer support, far removed from her previous work in trading or managing a treasury.

Ellison's hiring is significant because it tests the crypto community's willingness to give people a second chance after being involved with FTX. She will not be involved in selecting funded projects, but rather focus on improving Manifund's technical system and operational processes.

The SEC imposed restrictions on Ellison for 10 years, including a ban from serving as an officer or director. However, working in a technical and operational position at a private charity is outside the scope of these limitations.

Austin Chen, co-founder of Manifund, acknowledged that allowing Ellison to work under a pseudonym for several months compromised their transparency standards. He believes in redemption and sees Ellison's appointment as an opportunity to give her a second chance.