Caroline Ellison and Gary Wang, the former FTX executives who cooperated with authorities to convict Sam Bankman-Fried, reached a settlement with the CFTC to close their final civil case. The commission imposed five-year trading bans and eight to ten-year registration bars but no new fines, as they already paid 11.02 billion dollars in forfeiture from their criminal cases. Ellison, who ran trading firm Alameda Research, served fourteen months of a two-year sentence and was released in January. Wang, the co-founder who wrote the code allowing Alameda to move customer funds, never went to prison. SBF is currently serving twenty-five years, with his conviction upheld on appeal.
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