US commodities regulator imposes 5-year trading ban on ex-Alameda, FTX execs
The consent orders ended the CFTC’s case against two former crypto executives after FTX and Alameda agreed to $12.7 billion in disgorgement and restitution payments in August 2024.
The US Commodity Futures Trading Commission (CFTC) has imposed a five-year trading ban on former Alameda Research CEO Caroline Ellison and FTX co-founder Zixiao "Gary" Wang, as well as an eight-year registration ban on Wang. Ellison also faces a 10-year registration ban. The sanctions were imposed following the agency's civil case against the two executives, who committed fraud at Alameda and FTX.
The CFTC's enforcement director, David Miller, stated that Ellison and Wang assisted the Commission in its FTX-related investigations. The orders resolve the agency's enforcement actions against Ellison and Wang, who were previously indicted on fraud charges and testified against former FTX CEO Sam "SBF" Bankman-Fried at trial. FTX and Alameda agreed to pay $12.7 billion in disgorgement and restitution to affected users in August 2024.
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