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CFTC orders trading and registration bans tied to FTX collapse
The CFTC imposed a five year trading ban for Caroline Ellison and Zixiao Gary Wang, plus separate 10 year and eight year registration bans.
Cointelegraph reports that the US District Court for the Southern District of New York entered consent orders on Tuesday tied to a 2022 CFTC enforcement action against former Alameda Research CEO Caroline Ellison and FTX cofounder Zixiao Gary Wang.
The orders require both Ellison and Wang to receive a five year trading ban related to their roles in FTX’s collapse, and impose additional registration bans, with a 10 year ban for Ellison and an eight year ban for Wang.
Cointelegraph says the CFTC attributed the penalties to Ellison and Wang’s material assistance in the Commission’s FTX related investigations, and noted that the civil case is separate from criminal proceedings involving misuse of customer funds at FTX.
Separately, the outlet reports that US prosecutors in SDNY opposed a motion to dismiss filed by a US soldier, Gannon Ken Van Dyke, who is accused of profiting from the removal of Nicolás Maduro using event contracts on Polymarket with nonpublic information.