The US Securities and Exchange Commission said it is seeking to ban former Alameda Research CEO Caroline Ellison and former FTX executives Gary Wang and Nishad Singh from serving as officers or directors of public companies for several years. The proposed sanctions are part of the final consent judgments filed in the Southern District of New York.
According to the SEC, Ellison agreed to a 10-year officer-and-director bar, while Wang, FTX’s former chief technology officer, and Singh, its former co-lead engineer, agreed to eight-year bans. All three consented to permanent injunctions against future violations of federal antifraud laws, without admitting or denying the agency’s allegations.
The action stems from the collapse of FTX and affiliated trading firm Alameda Research in November 2022. Regulators have said Wang and Singh helped develop software that enabled the misuse of customer funds, which Ellison directed for Alameda’s trading activities. The case underscores ongoing regulatory scrutiny of executive conduct in crypto markets.
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