Former FTX executives Caroline Ellison and Gary Wang have finalized consent orders with the CFTC (U.S. derivatives market regulator), imposing permanent trading and registration bans. The settlements do not add new civil monetary penalties and are part of the civil regulatory aftermath of misconduct involving FTX and Alameda Research, rather than a new criminal case. Both figures were central cooperating witnesses in the broader criminal proceedings against FTX founder Sam Bankman-Fried. The orders represent one track in the wider FTX cleanup, alongside criminal prosecutions, bankruptcy claims, SEC and CFTC civil actions, and customer recovery processes. The permanent restrictions prevent Ellison and Wang from registering with the CFTC, trading in regulated markets, or taking part in certain activities under the agency’s jurisdiction. The settlements are not a new FTX market shock, but they underscore that regulators continue to address the collapse’s consequences and use it as a reference point for enforcement, governance, custody, and market integrity.