Caroline Ellison’s private writings from the months leading up to Alameda, FTX collapse uncovered in legal discovery process

The documents reveal that Ellison, a central figure in Bankman-Fried’s business empire, harbored self-doubt and felt overwhelmed by her role at Alameda Research. She expressed concerns over her suitability for the leadership position and also detailed the strain on her personal life resulting from a tumultuous relationship with Bankman-Fried.

Court documents also reveal a stark pay discrepancy between Ms. Ellison and her co-executives at FTX and Alameda Research. Despite her high-ranking position, she received noticeably lower compensation than her counterparts. Out of $3.2 billion allocated for payments and loans to the exchange’s founders and key personnel, Ms. Ellison’s share was only $6 million. This contrasts sharply with the $587 million that went to Nishad Singh, the Head of Engineering at FTX, and the $246 million received by Gary Wang, a company co-founder. The largest compensation package, a staggering $2.2 billion, went to Sam Bankman-Fried himself. It remains uncertain whether Ellison was aware of this stark wage gap at the time.

The severity of the charges against Bankman-Fried and the collapse of FTX have made headlines in the crypto world. The now-defunct FTX was once one of the world’s largest cryptocurrency exchanges, and its fall has sparked widespread scrutiny and legal fallout. Ellison’s confessional writings, though not yet public, offer a unique inside perspective into the decline of this crypto giant.