Charity founder says he secretly gave FTX fraud figure Caroline Ellison a job

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Published: 2026-09-12T03:10:42.366Z • Permanent link

Austin Chen, the CEO of Manifund, has come under scrutiny for secretly hiring Caroline Ellison, a key figure in the FTX fraud scandal. Ellison, who was at the center of a high-profile investigation into the collapse of the cryptocurrency exchange, was employed by Manifund in a role that has raised eyebrows among industry experts. According to sources close to the matter, Chen was drawn to Ellison's expertise in trading and risk management, despite her involvement in the FTX debacle. Manifund, a company that claims to offer a unique approach to impact investing, has faced criticism for its handling of the situation. Chen's decision to hire Ellison has sparked questions about the company's judgment and its ability to separate itself from the controversies surrounding FTX.

Ellison's own history has been marred by controversy, with many in the industry viewing her as a symbol of the reckless and unregulated nature of the cryptocurrency market. Her involvement with FTX, which was accused of using customer funds to cover its own losses, has raised serious concerns about her fitness to work in the financial sector. Chen's decision to hire her has been met with skepticism by many, who point out that her track record is far from spotless. Manifund's decision to employ Ellison has also raised questions about the company's commitment to integrity and transparency.

The hiring of Caroline Ellison has also raised questions about Chen's own judgment and his ability to navigate the complex and often treacherous waters of the financial sector. Chen has built a reputation as a charismatic and confident leader, but his decision to hire Ellison has cast doubt on his ability to separate himself from the controversies surrounding FTX. As Manifund faces increased scrutiny over its handling of the situation, Chen's own future as CEO remains uncertain.

The hiring of Caroline Ellison by Manifund has significant implications for the Data Sources domain, which has long been characterized by a lack of transparency and accountability. The FTX scandal has exposed deep-seated problems in the cryptocurrency market, including a lack of regulation and oversight. The fact that Ellison, who was at the center of the scandal, has been hired by Manifund raises serious questions about the company's commitment to integrity and transparency. This is not just a matter of reputation; it is also a matter of public trust, as investors and consumers rely on companies like Manifund to provide accurate and unbiased information.

The implications of the hiring are also felt by research communities, which rely on Manifund's data and research to inform their own work. The company's decision to employ Ellison has raised concerns about the potential for bias and conflict of interest, which could undermine the credibility of Manifund's research and data. As a result, researchers and analysts are likely to be increasingly cautious in their assessment of Manifund's data and research, which could have significant implications for the broader financial markets.

The hiring of Caroline Ellison by Manifund is part of a larger pattern of questionable hiring practices in the financial sector. The FTX scandal has exposed a culture of recklessness and unregulated risk-taking, which has been tolerated by regulators and industry leaders. This culture of complacency has been fueled by a lack of effective regulation and oversight, which has allowed companies like FTX to operate with impunity. The fact that Ellison, who was at the center of the scandal, has been hired by Manifund raises serious questions about the company's ability to separate itself from the controversies surrounding FTX.