CFTC Closes FTX Cases With Trading Bans for Caroline Ellison and Gary Wang and No Financial Penalties
The agency said both former FTX executives will remain barred from trading and registration while cooperating in the case.
- On Wednesday, The Commodity Futures Trading Commission said the District Court for the Southern District of New York entered supplemental consent orders against Caroline Ellison, former CEO of Alameda Research, and Gary Wang, who co-founded Alameda and FTX.
- Under the terms, both received five-year trading bans; Ellison received a 10-year registration ban and Wang an eight-year ban, dating from initial consent orders entered in December 2022.
- The CFTC declined to seek restitution, disgorgement, or civil penalties, citing the executives' cooperation and their joint liability for an $11.020 billion forfeiture order in parallel criminal cases.
- In parallel criminal cases, Sam Bankman-Fried received a 25-year prison sentence, whereas Wang and Nishad Singh received no prison time, reflecting different levels of cooperation.
- Trading prohibitions expire at the end of 2027, while Ellison's registration ban concludes in 2032 and Wang's in 2030, establishing distinct timelines for each executive's return to regulated activities.
22 Articles
22 Articles
CFTC Closes FTX Cases With Trading Bans for Caroline Ellison and Gary Wang and No Financial Penalties
The Commodity Futures Trading Commission said Wednesday that the U.S. District Court for the Southern District of New York entered supplemental consent orders against Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, who co-founded Alameda and FTX. The orders resolve the agency’s enforcement actions against both, and the CFTC is not seeking any money from either. Ellison received a five-year trading ban and a 10-year registrat…
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Cryptocurrency News | Cryptocurrency Prices | Market CapCFTC resolves FTX cases against Ellison and Wang
A U.S. federal court has resolved the CFTC’s cases against Caroline Ellison and Gary Wang by imposing five-year trading bans and registration bans of up to 10 years. The Commodity Futures Trading Commission said on Aug. 19 that the U.S.…
Ex-FTX, Alameda execs Ellison and Wang get trading bans but no fines after crypto collapse
Ex-FTX, Alameda execs Ellison and Wang get trading bans but no fines after crypto collapse Click this link for the original source of this article. Author: New York Post This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed...
Ex-FTX, Alameda execs Ellison, Wang get slap-on-the-wrist trading bans after crypto collapse
Caroline Ellison and Gary Wang – who worked with disgraced FTX crypto crook Sam Bankman-Fried – avoided financial penalties in a slap-on-the-wrist settlement with US regulators that was revealed Wednesday.
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