The US CFTC has banned Caroline Ellison and Gary Wang from trading for five years as part of a settlement tied to their roles at FTX, according to Bloomberg. Techmeme also surfaced Bloomberg’s report, identifying the action as a settlement over their roles at the collapsed cryptocurrency exchange. Bloomberg reports that Wang, an FTX co-founder, and Ellison, the former chief executive officer of Alameda Research, avoided financial penalties under the settlement with the US derivatives regulator. The public summaries do not provide additional settlement terms beyond the five-year trading bans and absence of financial penalties. The action adds another regulatory consequence for former senior figures associated with FTX and Alameda. Based on the available summaries, the concrete outcome is narrow: Ellison and Wang face time-limited trading bans, while the regulator did not impose monetary penalties on them in this settlement. The reports do not specify which instruments or markets are covered by the bans, nor do they describe any admissions, denials, or remaining obligations. For now, the confirmed facts are the identities of the executives, the regulator involved, the five-year duration, and the absence of financial penalties reported by Bloomberg. Who benefits: Wang and Ellison benefit from avoiding financial penalties, as Bloomberg reports. The CFTC secured trading restrictions on two former senior FTX-linked executives. Who's exposed: Ellison and Wang are directly exposed to the five-year trading restrictions. The provided summaries do not establish broader exposure for other individuals or firms.