- Major crypto trading firm Alameda Research CEO Sam Trabucco is stepping down. He gave that personally in one tweet announced on the evening of August 24th.
- Trabucco, 29, became CEO of the company after current FTX CEO Sam Bankman-Fried left the company in his position as CEO.
- On Twitter, Trabucco said he “can no longer justify the time it takes to be a core part of the company.” Trabucco has “reached the point in his life where I have to prioritize other things,” it said.
- Trabucco also stated that it had significantly reduced its stake in the company’s management in recent months. According to his own statements, he no longer lived up to his role as CEO.
- Caroline Ellison, current co-chair of the company, will now assume the sole position as CEO. Trabucco will remain an advisor to the company.
- Alameda Research was instrumental in the success of founder and billionaire Sam Bankman-Fried. This summer, the company came under the spotlight when it offered a $485 million cash injection to 3AC-collapse-stricken crypto lending service Voyager Digital.
- Despite the generous loan, Voyager could no longer keep its head above water and had to file for bankruptcy in early July.
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