CFTC bans Ellison, Wang from trading
The Commodity Futures Trading Commission announced a court-approved settlement that bars Caroline Ellison and Gary Wang from trading for five years and from CFTC registration for 10 and eight years respectively, while the agency did not seek financial penalties due to their cooperation. Both testified against former FTX CEO Sam Bankman-Fried after the exchange and Alameda Research collapsed in 2022 amid an $8 billion shortfall. The settlement follows criminal convictions and sentences, including Bankman-Fried's 25-year prison term and Ellison's guilty plea and 14 months served, and it may shape future regulatory enforcement in crypto.
Ellison and Wang were banned from trading for five years.
Context
The FTX exchange collapsed in 2022 after bankruptcy and an $8 billion shortfall. Trials…
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