Sam Trabucco resigns as co-CEO of Sam Bankman-Frieds Alameda Research

[ad_1]

After just a year at the helm, the co-CEO of Sam Bankman-Frieds crypto hedge fund, Alameda Research, is leaving the rat race to spend more time with his boat.

In a Twitter thread titled On Happiness, Sam Trabucco admitted he has found other things more worthwhile to do with my time than give it to Alameda, even as he described his three years at the firm as the most formative of his life.

Established in 2017 by Bankman-Fried before he went on to found crypto exchange FTX, Alameda trades thousands of different digital asset products, including all major crypto coins and their derivatives, with anaverage volumeof roughly $5 billion every day.

Recently it has been dragged into the bankruptcy of Voyager Digital, in which Alameda owns a stake and is both creditor and debtor,according to court filings. The Canadian crypto lender alleges Alameda owes it$377 million.

Trabuccos voice in the crypto space has been top notch over the past years, write Chris Dixon, digital fund manager with Think10 Capital, based in Australia. He has been a great source of high-level ideas, including market inefficiencies, game theory, and detailed explanations of complex ideas in the markets.

The decision of Trabucco, who only completed his undergraduate degree seven years ago, is symptomatic of a young generation of high-flying, high-skilled knowledge workers capable of extreme drive punctuated by a desire to maintain a more balanced approach to their careers.

It’s with the same goal that I’m announcing today that I am stepping down as co-CEO of Alameda Research @carolinecapital will continue on as Alameda’s CEO. I will stay on as an advisor, but otherwise will not continue to have a strong day-to-day presence at the company.

Sam Trabucco (@AlamedaTrabucco) August 24, 2022

Its an environment where so much is going on that work can easily become your life. And for a long time, I loved that, the former co-CEO wrote of his erstwhile employer.

No longer a role model

Trabucco explained he had reached the point in life where I have to prioritize other things, saying he now needed to relax and recover from a period of time he described as both consuming and exhausting.

Also, I bought a boat that’s been cool, he added.

Trabucco received his bachelors in mathematics and computer science from the prestigious engineering school, Massachusetts Institute of Technology. There he also served as president of the undergrad math association and director of a math tournament with Boston crosstown rival, Harvard.

After first joining Susquehanna International Grouplike Alameda a quant hedge fund that bases trading strategies heavily on mathhe joined up with Bankman-Frieds outfit in March 2019. The two knew each other from their undergraduate studies at MIT.

Last October Trabucco was officially named co-CEO, operating out of Hong Kong (on LinkedIn, he lists his term as having begun in August). His counterpart, Stanford math grad Caroline Ellison, will now act as sole CEO for the firm.

Trabucco went on to say he no longer had the same drive he once had, and therefore could not serve as a role model for Alameda.

I can’t personally continue to justify the time investment of being a central part of Alameda, he continued. Everyone works really hard here, and spending a normal amount of time at work is tricky especially when youre trying to be a leader.

Sign up for theFortune Features email list so you dont miss our biggest features, exclusive interviews, and investigations.

[ad_2]