Snapshot from Aug 24, 2026 at 07:00 UTC. For live data and tracking: View Live
Events / Regulatory / CFTC settles with Ellison and Wang
Regulatory regulatory settlement

CFTC settles with Ellison and Wang

Analysis based on 8 articles · First reported Aug 19, 2026 · Last updated Aug 20, 2026

Sentiment
10
Attention
4
Articles
8
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The settlement removes regulatory uncertainty for the individuals involved, but the broader FTX collapse continues to affect the cryptocurrency market's reputation and investor confidence. The CFTC's decision to waive penalties in exchange for cooperation may encourage future cooperation in enforcement actions, potentially impacting how regulators handle similar cases.

Cryptocurrency Financial Services Legal Services
Event Summary

On August 19, 2026, the U.S. District Court for the Southern District of New York entered supplemental consent orders resolving the United States — United States Commodity Futures Trading Commission's (CFTC) civil enforcement actions against Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX. Both received five-year trading bans and registration bans (10 years for Ellison, 8 years for Wang), with the restrictions retroactive to December 23, 2022. The CFTC waived additional monetary penalties, citing their cooperation and the $11.02 billion criminal forfeiture order. Ellison and Wang had pleaded guilty to federal charges in 2022 and testified against FTX founder Sam Bankman-Fried, who was convicted and sentenced to 25 years in prison. The CFTC's actions against FTX and Alameda were resolved with a $12.7 billion judgment in August 2024, and Nishad Singh settled with the CFTC in April 2026. The latest orders close the CFTC's individual cases against Ellison and Wang, though they must continue cooperating. Separately, law firm Fenwick & West agreed to pay $54 million to settle a class action by former FTX customers.

Key Actions
80 United States — United States Commodity Futures Trading Commission imposed trading bans Caroline Ellison
80 United States — United States Commodity Futures Trading Commission imposed trading bans Gary Wang
70 United States — United States Commodity Futures Trading Commission waived monetary penalties Caroline Ellison
70 United States — United States Commodity Futures Trading Commission waived monetary penalties Gary Wang
60 United States — United States Commodity Futures Trading Commission obtained $12.7B judgment FTX
60 United States — United States Commodity Futures Trading Commission obtained $12.7B judgment Alameda Research
50 United States — United States Commodity Futures Trading Commission required continued cooperation Caroline Ellison
50 United States — United States Commodity Futures Trading Commission required continued cooperation Gary Wang
40 United States — United States Commodity Futures Trading Commission settled with Nishad Singh Nishad Singh
30 Fenwick & West agreed to pay
Entities Involved
govactor
United States — United States Commodity Futures Trading Commission
The CFTC resolved its enforcement actions against Ellison and Wang, imposing trading and registration bans while waiving monetary penalties due to their cooperation. This reinforces the CFTC's emphasis on cooperation in major investigations.
Importance 100.0 Sentiment 60.0
per
Caroline Ellison
Ellison received a five-year trading ban and a 10-year registration ban, but avoided additional civil penalties due to her cooperation. She remains jointly liable for the $11.02 billion criminal forfeiture order and has served a two-year prison sentence.
Importance 90.0 Sentiment -20.0
per
Gary Wang
Wang received a five-year trading ban and an eight-year registration ban, with no additional civil penalties due to his cooperation. He was sentenced to time served and three years of supervised release in the criminal case.
Importance 90.0 Sentiment -20.0
priv
Alameda Research
Alameda Research was central to the FTX fraud, and the CFTC obtained a $12.7 billion judgment against it in August 2024. The company is defunct, and its assets are being used to repay creditors.
Importance 80.0 Sentiment -80.0
exch
FTX
FTX collapsed in November 2022, leading to billions in customer losses. The CFTC secured a $12.7 billion judgment against FTX, and the exchange is in bankruptcy proceedings.
Importance 80.0 Sentiment -80.0
per
Sam Bankman-Fried
Bankman-Fried was convicted of fraud and sentenced to 25 years in prison. His case remains pending with the CFTC, and he is the last individual defendant in the CFTC's FTX enforcement action.
Importance 70.0 Sentiment -90.0
govactor
United States — United States District Court for the Southern District of New York
The court entered the supplemental consent orders resolving the CFTC's cases against Ellison and Wang, and has overseen related FTX litigation.
Importance 60.0 Sentiment 0.0
per
Nishad Singh
Singh settled with the CFTC in April 2026, agreeing to pay $3.7 million in disgorgement and accepting a five-year trading ban and an eight-year registration ban. He cooperated with authorities and testified against Bankman-Fried.
Importance 50.0 Sentiment -30.0
priv
Fenwick & West
Fenwick & West agreed to pay $54 million to settle a class action brought by former FTX customers, related to its role in advising FTX and Alameda. The settlement is pending court approval.
Importance 40.0 Sentiment -40.0
Relationships
Alameda Research related ↔ FTX
Alameda Research related ↔ Sam Bankman-Fried
FTX related ↔ Sam Bankman-Fried
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