The Commodity Futures Trading Commission announced that a federal court entered supplemental consent orders resolving its enforcement actions against former Alameda Research CEO Caroline Ellison and Alameda and FTX co-founder Gary Wang. Both received five-year trading bans. Ellison received a 10-year registration ban, while Wang received an eight-year registration ban, with all periods running from the December 2022 entry of their initial consent orders. The CFTC is not seeking restitution, disgorgement or civil monetary penalties at this time, based partly on Ellison’s and Wang’s cooperation and the USD 11.02 billion forfeiture order for which they are jointly and severally liable in related criminal proceedings. They must continue cooperating, including in the CFTC’s litigation against Samuel Bankman-Fried. The agency may seek to reopen the cases and pursue monetary remedies if either knowingly provided materially false or misleading information or breaches a cooperation agreement.
2026-08-19Commodity Futures Trading Commission
Commodity Futures Trading Commission resolves FTX fraud actions against Caroline Ellison and Gary Wang with trading and registration bans
The Commodity Futures Trading Commission resolved its FTX-related fraud actions against Caroline Ellison and Gary Wang, imposing five-year trading bans and registration bans of 10 and eight years, respectively. The CFTC is not seeking monetary remedies at this time because of their cooperation and the related USD 11.02 billion forfeiture order, but may reopen the cases if they provide materially false information or breach their cooperation agreements.