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US SEC Reaches Settlement with Three Former FTX Executives, Caroline Ellison Banned from Executive Roles for 10 Years

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The U.S. Securities and Exchange Commission (SEC) announced on December 20 a settlement with three former FTX executives. Caroline Ellison, ex-CEO of Alameda Research, will be banned from executive roles for 10 years, while Gary Wang and Nishad Singh face an 8-year ban. All three are under a 5-year conduct-based injunction. The SEC claimed they allowed Alameda to bypass risk measures and access FTX customer funds via unlimited credit lines. Ellison used the funds for trading, facilitated by code changes from Wang and Singh. The settlement awaits court approval. The case highlights scrutiny around liquidity and crypto markets and strengthens efforts in Countering the Financing of Terrorism.
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