Caroline Ellison and Gary Wang receive five year trading ban

The Commodity Futures Trading Commission has officially banned former Alameda Research CEO Caroline Ellison and FTX co founder Gary Wang from trading for five years. This supplemental consent order, issued by the US District Court for the Southern District of New York, mandates that both individuals continue their cooperation with federal authorities.

Beyond the five year trading ban, the order includes strict conditions regarding future registration. Ellison is prohibited from registering with the commission for ten years, while Wang faces an eight year ban. These measures effectively finalize the commission's enforcement actions against both parties following the historic collapse of the crypto exchange.

The regulatory decision recognizes the assistance Ellison and Wang provided during investigations into FTX. While both have moved past their initial criminal sentencing, Sam Bankman Fried remains incarcerated with his release date set for 2044. His recent efforts to secure a presidential pardon were officially discouraged by the US Senate.

Traders should note that this ruling closes a significant chapter in the FTX legal proceedings. As the dust settles on these individual cases, the focus remains on the long term oversight of major exchanges and the aftermath of the platform's downfall.