Onchain, in court: What happened in crypto legal news this week

The CFTC ordered a trading ban for former Alameda and FTX executives, and US prosecutors opposed a motion from a US soldier accused of profiting from the removal of Nicolas Maduro.

Update (Aug. 21, 9:50 pm UTC): This article has been updated to include information about the criminal case against Edward Zimbardi.

On Tuesday, the US District Court for the Southern District of New York (SDNY) entered consent orders related to a 2022 enforcement action against former Alameda Research CEO Caroline Ellison and crypto exchange FTX co-founder Zixiao “Gary” Wang.

The orders imposed by the US Commodity Futures Trading Commission (CFTC) required that Ellison and Wang receive a five-year trading ban related to their roles in the crypto exchange’s collapse. The CFTC also ordered that the Alameda CEO receive a 10-year registration ban, while Wang received an eight-year registration ban.

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