The CFTC announced consent orders in its civil cases against former Alameda Research CEO Caroline Ellison and FTX co-founder Zixiao « Gary » Wang. The orders, filed Tuesday with the US District Court for the Southern District of New York, require both former executives to comply with a five-year trading ban, along with a ten-year registration ban for Ellison and an eight-year ban for Wang. These sanctions follow the August 2024 agreement in which FTX and Alameda agreed to pay $12.7 billion in disgorgement and restitution to affected users. The CFTC consent orders resolve the civil enforcement actions against Ellison and Wang, who both testified against former FTX CEO Sam « SBF » Bankman-Fried at trial.
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