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Co-CEO of Crypto Trading Firm Alameda Research Sam Trabucco Steps Down
Trabucco will stay on as an adviser, while Caroline Ellison will become the company’s sole CEO.
Sam Trabucco, the co-CEO of crypto trading firm Alameda Research, is stepping down from his leadership role and becoming an adviser, Trabucco tweeted Wednesday. Like crypto exchange giant FTX, Alameda was started by Sam Bankman-Fried, and the company operates a vast network of trading, yield farming, startup investments and market making.
- Fellow co-CEO Caroline Ellison will remain as the company’s sole CEO, Trabucco wrote.
- Trabucco said in a tweet thread that he had significantly reduced his role at Alameda over the past few months, noting he reached a point in life where had to “prioritize other things” such as his personal life. “I needed to relax,” he added, and I’m really, really happy.”
- Trabucco said he doesn't currently have any other crypto projects lined up, "but I wouldn't rule anything out in the future once I feel more 'recovered.'"
- Bankman-Fried initially ceded leadership of Alameda to Trabucco and Ellison in October. The two both had pre-crypto ties to Bankman-Fried, who started Alameda in 2017 to exploit crypto arbitrage opportunities. He hired Ellison, who worked with him at Jane Street, in 2018, and Trabucco, a Susquehanna bond trader and friend from MIT, a year later.
- FTX didn’t immediately respond to a request for comment.
UPDATE (Aug. 24 19:43 UTC): Added background on Alameda and an additional quote from Trabucco.
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Nelson Wang
Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.
