The U.S.C.FTC against the two ftX team hammers: Ellison and Wang were banned from trading for five years without seeking a refund or a civil fine

On 21 August, the United States Commodity Futures Trading Commission (CFTC) recently disclosed that the United States Federal District Court for the Southern District of New York had issued a supplementary consent order to the former CEO Caroline Ellison and Alameda and Gary Wang, co-founders of FTX, formally resolving the CFTC enforcement case against both. Both Ellison and Wang were required by the court order to continue to cooperate with the CFTC investigation. Ellison was sentenced to a 5-year trade ban and a 10-year registration ban, and Wang to a 5-year trade ban and an 8-year registration ban. The duration of the prohibition is calculated from the date of the entry into force of the initial consent order signed by the two persons on 23 December 2022. In 2022, the court had found Ellison responsible for two of the frauds alleged by the CFTC, found Wang responsible for a fraud charge and permanently prohibited both persons from violating the Commodity Transactions Act and the relevant anti-fraud provisions of the CFTC. It is noteworthy that at this time CFTC did not seek to recover additional contributions, return illegal proceeds or civil fines against Ellison and Wang. CFTC law enforcement indicated that this decision was based in part on the significant cooperation of the two individuals in the investigation and related proceedings, including the admission of guilt in federal criminal cases, and assistance in the investigation of matters related to FTX. According to David I. Miller, the head of the CFTC law enforcement department, Ellison and Wang were found guilty of fraud as senior managers of Alameda and FTX, but their final punishment reflects the important assistance they provided to the CFTC investigation. In addition, both individuals have recognized in the relevant criminal cases a number of offences, including conspiracy to commit commodity fraud, and have jointly assumed responsibility for confiscation orders of approximately $11.02 billion. This consent order means that the CFTC has officially concluded its enforcement action against Ellison and Wang。