FTX’s Caroline Ellison and Gary Wang hit with five-year trading ban

Former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang have been slapped with a five-year trading ban by the Commodity Futures Trading Commission (CFTC) today. 

The supplemental consent order was handed down in the US District Court for the Southern District of New York.

It requires Ellison and Wang to continue their cooperation with the CFTC.

Ellison and Wang must also refrain from registering with the commission for 10 and eight more years, respectively.

Ellison and Wang’s trading ban resolves CFTC action

The CFTC’s announcement said, “The initial and supplemental consent orders resolve the CFTC’s enforcement actions against Ellison and Wang.”

Ellison was sentenced to two years in prison back in September 2024 and was released from custody in January 2026.

Wang received no prison sentence and was handed three years of supervised release.

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The pair agreed to help authorities in their case against FTX, and as the CFTC noted today, their punishment reflects “their material assistance in the commission’s FTX-related investigations.”

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