CFTC Resolves Actions Against Former Alameda CEO, and Alameda and FTX Co-Founder

The U.S. District Court for the Southern District of New York entered supplemental consent orders against Caroline Ellison and Gary Wang requiring continued cooperation with the CFTC, imposing trading and registration bans (Ellison: five-year trading ban and ten-year registration ban; Wang: five-year trading ban and eight-year registration ban). The orders supplement initial consent orders entered Dec. 23, 2022, which found them liable on CFTC fraud counts and permanently enjoined them from violating antifraud provisions; the CFTC is not seeking restitution, disgorgement, or civil monetary penalties at this time, in part due to their cooperation and a joint and several $11.020 billion forfeiture order in related criminal actions.