Market Analysis Report (25 Aug 2022)

Sam Trabucco has resigned from his Co-CEO role at multi-strategy crypto trading firm Alameda Research. Trabucco tweeted yesterday that he will stay on as an adviser. Caroline Ellison, who has been a trader at the firm since March 2018, will now become the sole CEO.

“I can’t personally continue to justify the time investment of being a central part of Alameda,” Trabucco said. “Everyone works really hard here, and spending a ‘normal’ amount of time at work is tricky — especially when you’re trying to be a leader.”

Sam Bankman-Fried, who is co-founder and CEO of FTX, founded Alameda Research in October 2017. Trabucco and Ellison had been operating as Co-CEOs since last year. Although no official comments have been made by Alameda, a recent tweet suggests that the departure is for personal reasons.

“I’ve reached a point in life where I have to prioritize other things,” Trabucco said. “Lately I’ve been really happy, spending a lot of time traveling, visiting friends and family, working on “myself” and whatnot. Also I bought a boat, that’s been cool. I needed to relax, and I’m really, really happy.”