SEC dey find long-term ban make dem no fit be officer/director for ex-executives of FTX and Alameda

US Securities and Exchange Commission (SEC) don file proposed final consent judgments against former Alameda CEO Caroline Ellison and former FTX engineers Gary Wang and Nishad Singh as part of dem enforcement for FTX fraud. SEC dey claim say from May 2019 to Nov 2022 FTX and Sam Bankman‑Fried raise over $1.8 billion while dem misrepresent risk controls and treat Alameda Research like normal customer but exempt am from protections. The complaints talk say Wang and Singh code systems wey divert customer funds to Alameda and Ellison misuse those funds; hundreds of millions allegedly send for Alameda investments and personal loans. Ellison, Wang and Singh agree to final judgments without admitting liability: permanent anti‑fraud injunctions and ban from serving as public‑company officers or directors — Ellison for 10 years, Wang and Singh for 8 years — subject to court approval. The action na part of SEC broader enforcement and asset‑recovery efforts tied to the criminal case against Sam Bankman‑Fried. Market reaction soft: FTX native token FTT rise about 6% intraday to roughly $0.51 after the filings but still over 99% below its all‑time high. For traders: the rulings reinforce regulatory risks around centralized exchanges and governance failures, unlikely to materially change FTT’s fundamentals, and fit small affect sentiment toward legacy FTX‑linked assets.