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.
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UPDATE (Aug. 24 19:43 UTC): Added background on Alameda and an additional quote from Trabucco.