In a stunning development, Forbes has crafted a story calling Alameda Research CEO Caroline Ellison a “math whiz.” Amidst her role in losing over $9 billion in FTX customer funds.
She is one of the principal players in the FTX collapse that has devastated the cryptocurrency market. But a recent Forbes article has seemingly focused on her mathematics acumen and penchant for fictional wizarding worlds.
Forbes Tone Deaf Take on Disgraced CEO
It is one of the most shocking developments in the history of cryptocurrency. FTX, a widely known and respected crypto exchange platform, was destroyed seemingly overnight. Although it was, in reality, the result of months worth of shady business practices that took advantage of billions of dollars worth of customer assets.
Sam Bankman-Fried has been the poster child for the meltdown. As the now disgraced former CEO has rightfully been the face of the scandal. However, a recent report today from Forbes placed the spotlight on another culpable party, Alameda Research CEO Caroline Ellison. Yet, not the spotlight you would expect.
Forbes has seemingly missed the mark on their portrayal of who Ellison is, sacrificing the weight of what she’s done. Subsequently, in a Tweet promoting the piece, she was referred to as a “math whiz who loves Harry Potter and taking big risks.” Nearly championing her relentless pursuit of success.
What the piece doesn’t do, however, is paint the real picture of Ellison’s culpability. Alongside Bankman-Fried, the duo had built a trustful name in the crypto market, only to illegally take advantage of that trust. Conversely, establishing debt in the billions would eventually cause that platform to plummet to bankruptcy.
The headline ensures readers that Ellison is a “risk-loving 29-year-old,” while saving the reality of her orchestration of utter financial devastation for the body of the story. Correspondingly displaying the gravity of her theft is a mere byproduct of the weight of her persona.
An inappropriate representation at best, and harmfully disingenuous at worst. The damage that the FTX collapse has caused the industry, and customers, deserves to be answered. Furthermore, it deserves to be answered by Caroline Ellison and Sam Bankman-Fried