FTX founder Sam Bankman-Fried has been in the spotlight following his arrest in the Bahamas, but attention has also been drawn to the whereabouts of Caroline Ellison, former CEO of Alameda Research, the hedge fund closely associated with FTX.
Bankman-Fried, founder of the collapsed cryptocurrency exchange, was arrested Monday following charges from the US Justice Department. On Tuesday, the Securities and Exchange Commission charged Bankman-Fried, commonly known as SBF, with committing fraud after raising $1.8 billion from investors.
The ties between FTX and Alameda Research are under intense scrutiny. The cryptocurrency exchange used client funds to lend billions of dollars to Alameda for risky trades and investments, the Wall Street Journal reports. Citing bankruptcy filings from FTX, the Wall Street Journal also reports that Bankman-Fried owned 90% of Alameda Research.
A graduate of Stanford University, Ellison grew up in the Boston suburbs, the daughter of two MIT economists, according to the Wall Street Journal. After graduating, she worked at quantitative trading company Jane Street, where she met fellow trader Bankman-Fried.
The 28-year-old was previously in a relationship with Bankman-Fried, reports say.
See now: FTX founder Sam Bankman-Fried arrested and US plans to open charges
Bankman-Fried resigned as CEO of FTX on November 11, as the crypto exchange and its affiliates filed for bankruptcy. Ellison was subsequently fired from her role at Alameda.
As the shock waves of FTX’s collapse continue to reverberate, Ellison’s whereabouts have become a topic of interest on social media. Alameda Research is based in Hong Kong, as is FTX until its move to the Bahamas in 2021.
“Caroline oh Caroline; why art thou, O Caroline Ellison,” one Twitter user tweeted Tuesday.
“Where is Caroline Ellison now? @TheJusticeDept do you care?” tweeted another user.
Watch now: SEC accuses Sam Bankman-Fried of defrauding investors in now-bankrupt FTX
The former Alameda CEO was reportedly spotted in a Manhattan coffee shop earlier this month, sparking speculation that she may be cooperating with authorities.
Ellison’s last tweet was on Nov. 9.
Bloomberg reports that Ellison has hired Stephanie Avakian, a former director of the SEC’s Department of Enforcement, to represent her. Avakian is now chairman of the securities and financial services division at the WilmerHale law firm.
MarketWatch has contacted WilmerHale requesting comment on this story.