Sam Trabucco, the co-CEO of Alameda Research, a crypto hedge fund set-up by Sam Bankman-Fried in 2017 before he went on to found crypto exchange FTX, is stepping down after just a year in the role, according to a report by Fortune.

Trabucco tweeted this week that he had found other things "more worthwhile to do with my time than give it to Alameda".

Alameda is a quant fund that trades thousands of different digital asset products, including crypto coins and their derivatives, with an average volume of roughly $5 billion every day.

Recently the fund has been named as both a creditor and debtor in court filings related to the Bankruptcy of Voyager Digital, with the Canadian crypto lender claiming that it is owed $377 million by Alameda..

In the wake of Trabucco's decision, co-CEO Caroline Ellison, will now act as sole CEO for the firm.