CFTC Bars FTX Executives From Trading After Settlement With Agency

Former FTX executives Caroline Ellison and Gary Wang agreed to settlements with the US derivatives regulator that bar them from trading and restrict their ability to work in the industry.

The Commodity Futures Trading Commission barred Ellison from trading for five years and from registering with the agency for 10 years. Wang received five-year and eight-year restrictions, respectively. The penalties add to the fallout from FTX’s 2022 collapse and the criminal cases involving its former executives.

Cooperation Cuts Penalties

The CFTC did not seek fines or repayment of profits, citing Ellison’s and Wang’s cooperation. “Today’s resolution further underscores the high value this division places on robust cooperation,” Enforcement Director David Miller said.

Related: OCC Targets November for GENIUS Act Stablecoin Rules

FTX collapsed in 2022, leaving custom…

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