CFTC Bans Caroline Ellison from Trading for Five Years

The Commodity Futures Trading Commission issued final orders this week that prohibit Caroline Ellison and Gary Wang from trading on any exchange registered with the agency for the next five years. Both individuals were key figures at Alameda Research and FTX prior to the collapse of the major crypto platform.

This decision marks a conclusion to the civil charges brought against them by the regulator. Because both Ellison and Wang provided extensive cooperation during the legal process, the agency decided not to pursue monetary penalties, restitution, or disgorgement at this time.

These restrictions serve as a final regulatory step in the ongoing fallout from the FTX bankruptcy. For traders and investors, this ruling closes a chapter on the leadership team responsible for the exchange, while keeping the focus on market stability and compliance moving forward.