Sam Trabucco, co-CEO of Alameda Research and a liquidity provider for the cryptocurrency market, is quitting his role.
Trabucco stated in a series of tweets on Wednesday that he will continue working for the Company as an adviser but will no longer be present at Alameda on a daily basis. According to the Company’s representative, Caroline Ellison will remain the company’s sole CEO.
In what is viewed as a farewell message, Trabuco tweeted that he couldn’t conceive of more meaningful use of his time for years than to donate it to the Company. He added that despite being challenging, demanding, and time-consuming, it has indeed been a delight to be a part of. Additionally, he feels that it has come to a moment in life where he needs to prioritize other things.
Trabucco’s journey in Alameda
Alameda was established in 2017 by Sam Bankman-Fried, CEO of FTX, and transacts daily in billions of dollars across all active cryptocurrency markets. Trabucco and Ellison joined the firm as traders in 2019 and 2018, respectively, before being named co-CEOs of the firm last October.
In recent months, Trabucco had scaled back his responsibilities at Alameda. He doesn’t have any projects planned right now.
Trabucco noted that he will still be around in some capacity since he can’t completely withdraw from cryptocurrency without going through withdrawal.
Ellison worked on the equities desk at Jane Street prior to joining the firm, where she met Bankman-Fried. Together, the two created a 25-person team for Alameda’s trading floor and back office operations.
Ellison commenting on the resignation of Trabucco tweeted that Working with Trabucco has been a tremendously formative experience
” Although I’ve missed having him around lately, I’m pleased with all the other staff members who have stepped up and am more optimistic than ever about the future.”
Despite the fact that Alameda remained silent over Trabucco’s exit, he maintained that he was departing for personal reasons.
“Recently, I’ve been pretty pleased, traveling frequently, seeing friends and family, working on “myself,” and other things. Additionally, it’s wonderful because I bought a boat. I’m incredibly delighted and needed to unwind.”
