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) announced consent orders related to its civil cases against former Alameda Research CEO Caroline Ellison and FTX co-founder Zixiao “Gary” Wang.
The orders, filed in the US District Court for the Southern District of New York on Tuesday, require Ellison and Wang to continue cooperating with the CFTC and imposed a five-year trading ban on both former executives. Ellison also received a 10-year registration ban, while the commodities regulator imposed an eight-year registration ban on Wang.
“Ellison and Wang were senior executives who committed fraud at Alameda and FTX for which they were found liable,” said the CFTC’s enforcement director, David Miller. “Their sanctions, however, reflect their material assistance in the Commission’s FTX-related investigations.”
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