CFTC bars Caroline Ellison and Gary Wang from trading for five years in FTX collapse settlement

The U.S. Commodity Futures Trading Commission (CFTC) has imposed a five-year trading ban on former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. The CFTC’s supplemental consent order was entered through the US District Court for the Southern District of New York, and requires both individuals to continue cooperating with the agency ^[1].

The CFTC said the consent orders resolve its civil cases against Ellison and Wang following their cooperation, ending the enforcement matter tied to the FTX collapse. Reporting also links the resolution to a broader settlement in which FTX and Alameda agreed to $12.7 billion in disgorgement and restitution payments in August 2024 ^[2].

Other coverage characterized the action as the closure of the CFTC’s civil enforcement against the two executives, noting their roles at Alameda and FTX and the connection to the fallout from FTX in 2022 ^{[3] [4]}.

Ellison and Wang’s CFTC cases have been resolved with five-year trading bans and continued cooperation requirements as the civil enforcement concludes ^{[1] [2]}.