CFTC gives former FTX executives five-year bans

• The US CFTC imposed five-year trading bans on former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang.
• Ellison also received a 10-year registration ban, while Wang received an eight-year registration ban.
• The orders ended the CFTC’s cases after FTX and Alameda agreed to $12.7 billion in payments.

The US Commodity Futures Trading Commission imposed five-year trading bans on former FTX executives Caroline Ellison and Gary Wang.

The orders also require both executives to keep cooperating with the CFTC in its investigations.

The CFTC said Ellison and Wang were senior executives involved in fraud at Alameda and FTX.

Ellison received a 10-year ban from CFTC registration, while Wang received an eight-year registration ban.

The CFTC said the sanctions reflected the pair’s assistance with its investigations into FTX.

The orders resolve CFTC cases against Ellison and Wang that began with a December 2022 complaint.

In August 2024, FTX and Alameda were ordered to pay $12.7 billion in disgorgement and restitution to affected users.