The US Commodity Futures Trading Commission (CFTC) filed consent orders on Tuesday in the US District Court for the Southern District of New York, closing its civil cases against Caroline Ellison and Gary Wang.
Ellison is the former CEO of Alameda Research. Wang is a co-founder of FTX.
Both received a five-year trading ban. Ellison also received a 10-year registration ban, and Wang received an 8-year registration ban. Both must keep cooperating with the CFTC.
The orders follow an August 2024 decision in which FTX and Alameda agreed to pay $12.7 billion in disgorgement and restitution to affected users.
CFTC enforcement director David Miller said the two were senior executives who committed fraud at Alameda and FTX for which they were found liable, and that their sanctions reflect the material assistance they gave to the CFTC's FTX-related investigations.
US Commodity Futures Trading Commission (CFTC) via Cointelegraph