Former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang face trading bans after $12.7 billion settlement with the CFTC.
The US Commodity Futures Trading Commission imposed five-year trading bans on former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. The consent orders resolve civil cases tied to the $12.7 billion disgorgement and restitution agreement reached in August 2024 with FTX and Alameda.
Ellison and Wang were named in a December 2022 complaint alongside former FTX CEO Sam Bankman-Fried. The CFTC cited their roles in fraud at Alameda and FTX but noted their cooperation in ongoing investigations. Ellison received a 10-year registration ban, while Wang faces an eight-year ban.
The sanctions follow the CFTC’s August decision ordering FTX and Alameda to pay $12.7 billion to affected users. The agency did not disclose immediate market reactions to the bans.