• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Some Fortune Crypto pricing data is provided by Binance.
NewslettersFortune Crypto

I want to feel sorry for FTX nerd Caroline Ellison, but I just can’t

Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
May 30, 2023, 7:57 AM ET
In a video that has been widely shared since the fall of FTX, Caroline Ellison is interviewed about her role at Alameda Research.
In a video that has been widely shared since the fall of FTX, Caroline Ellison is interviewed about her role at Alameda Research.Screenshot from El Momento Podcast

Fortune has an intriguing new profile of Caroline Ellison, the young woman who was CEO of Sam Bankman-Fried’s crypto trading firm, Alameda Research. Writer Courtney Rubin reached out to 150 of Ellison’s friends and associates to create the most complete picture to date of Ellison, who is now a cooperating witness in the criminal trial against Bankman-Fried, the founder of FTX and her onetime boyfriend.

What emerges is a picture of Ellison that shows her to be utterly brilliant in some aspects of life—especially math and economics—but totally stunted in others, especially when it came to social interactions. We learn that she viewed talking with other people as “unpleasant” and that, in the words of a college friend, “she would marry her math homework if that was legal.”

Ellison is an unapologetic nerd, reveling in books and LARPer culture, and, as Rubin reveals, is admirably indifferent to popularity or what others think of her. Her priorities instead revolved around Harry Potter—she began tearing through the books on her own at the age of 5—and quirky intellectual pursuits like writing a review of the 1,400-page novel A Suitable Boy in rhyming couplets.

This is a person who, in the ordinary course of things, I would be rooting for. It’s easy to relate to those who never quite fit in and to cheer for the ones who become wildly successful all the same by relying—as Ellison did—on brains and hard work rather than looks and popularity.

Given all this, it’s tempting to view Ellison’s undoing as not her fault. Could it be that she was the victim of Bankman-Fried’s manipulations and her own poor social skills? And that she faced an impossible situation as a woman in the bro-y world of finance? Rubin cites a blog post where Ellison, looking to muster confidence as a boss, compares herself to the only female general in an all-male Harry Potter army: “If Hermione Granger can be a general in one of Quirrell’s armies, I can send a message asking some guys if there’s been any progress on the thing.”

I love the sentiment, but, unfortunately, Ellison’s actions speak for themselves. This a young woman who may have been awkward, but who was born with every other advantage—wealth, status, education, and a brilliant mind. Yet she chose to offer the world nothing in return, instead exalting in her own intellect while helping Bankman-Fried carry out a massive fraud. I hope she goes to prison.

Jeff John Roberts
jeff.roberts@fortune.com
@jeffjohnroberts

DECENTRALIZED NEWS

A surge of positive investor sentiment in response to the debt deal helped Bitcoin jump past $28,000, its highest level in two weeks. (Bloomberg)

A White House plan to impose a 30% excise tax on Bitcoin mining appears to have been scrapped as part of the debt ceiling compromise. (Fortune)

Singapore’s state-owned investment firm Temasek cut senior managers’ pay after they lost $275 million on FTX. (WSJ)

Upstart NFT marketplace Blur’s new lending platform racked up $308 million in trading volume in its first three weeks, though skeptics note some of this is wash trading. (CoinDesk)

Gemini and Genesis asked a judge to dismiss a Securities and Exchange Commission lawsuit over Earn, claiming the troubled high-interest product offered loans, not securities. (Bloomberg)

MEME O’ THE MOMENT

The Winklevii in Dubai:

This is the web version of Fortune Crypto, a daily newsletter. Sign up here to get it delivered free to your inbox.

About the Author
Jeff John Roberts
By Jeff John RobertsEditor, Finance and Crypto
LinkedIn iconTwitter icon

Jeff John Roberts is the Finance and Crypto editor at Fortune, overseeing coverage of the blockchain and how technology is changing finance.

See full bioRight Arrow Button Icon

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in Newsletters

SpaceX just made IPO history. Gwynne Shotwell made it possible
NewslettersMPW Daily
SpaceX just made IPO history. Gwynne Shotwell made it possible
By Emma HinchliffeJune 12, 2026
18 hours ago
Mo Jomaa of CapitalG, Nizar Tarhuni of PitchBook, and Hans Tung of Notable Capital at Fortune Brainstorm Tech 2026 in Aspen, Colorado. (Photo: Stuart Isett/Fortune)
NewslettersFortune Tech
The SpaceX IPO is not the market savior it seems
By Andrew NuscaJune 12, 2026
1 day ago
How Elon Musk sold a $1.77 trillion dream—and what other CEOs can learn from the SpaceX IPO
NewslettersCEO Daily
How Elon Musk sold a $1.77 trillion dream—and what other CEOs can learn from the SpaceX IPO
By Diane BradyJune 12, 2026
1 day ago
Why is it so hard to get ROI from AI? Because building from first principles isn’t easy
NewslettersEye on AI
Why is it so hard to get ROI from AI? Because building from first principles isn’t easy
By Jeremy KahnJune 11, 2026
1 day ago
Bridgit Mendler, co-founder and CEO of Northwood, at Fortune Brainstorm Tech 2026 in Aspen, Colorado. (Photo: Stuart Isett/Fortune)
NewslettersMPW Daily
How Hollywood trained Bridgit Mendler for life as a space founder
By Emma HinchliffeJune 11, 2026
2 days ago
Chevron’s CFO on why finance chiefs are defining AI’s business value
NewslettersCFO Daily
Chevron’s CFO on why finance chiefs are defining AI’s business value
By Sheryl EstradaJune 11, 2026
2 days ago

Most Popular

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Investing
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
By Jim EdwardsJune 12, 2026
1 day ago
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
4 days ago
Current price of oil as of June 12, 2026
Personal Finance
Current price of oil as of June 12, 2026
By Joseph HostetlerJune 12, 2026
22 hours ago
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
Success
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
By Catherina GioinoJune 11, 2026
2 days ago
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
3 days ago
Meet the SpaceX employees who are set to become multimillionaires thanks to its IPO: from execs to even welders
Success
Meet the SpaceX employees who are set to become multimillionaires thanks to its IPO: from execs to even welders
By Preston ForeJune 11, 2026
2 days ago