The U.S. Commodity Futures Trading Commission (CFTC) imposes five-year trading bans on two former crypto executives tied to the collapsed FTX and Alameda cases. The CFTC issues consent orders resolving its action against Gary Wang, a former FTX co-founder, and Caroline Ellison, former CEO of Alameda Research.
According to the outlets, the orders conclude the regulator’s case through a settlement process in which FTX and Alameda agree to make large disgorgement and restitution payments. Bloomberg reports that Wang and Ellison avoid financial penalties under the settlement. Cointelegraph adds that the consent orders end the CFTC’s case following an agreement that totals $12.7 billion in disgorgement and restitution, reached in August 2024.
While both sources focus on the trading bans and settlement outcome, they differ in emphasis: Bloomberg highlights that the executives sidestep additional financial penalties, whereas Cointelegraph stresses the role of the overall $12.7 billion payments in concluding the regulator’s proceedings.
