💥 📜 In a historic move that ends a long chapter of one of the deepest financial collapses in the crypto world…
The **U.S. Securities and Exchange Commission (SEC)** ⚖️ announced **final settlements** against **three of the prominent faces** behind the FTX disaster! 🏛️💣
👥 The three defendants:
🔹 **Caroline Ellison** – former CEO of **Alameda Research** 🧠
🔹 **Gary Wang** – the former founder and CTO of **FTX** 💻
🔹 **Nishad Singh** – co-engineer at **FTX** ⚙️
🛑 They all agreed – **without admission or denial** – to civil judgments permanently barring them from violating securities fraud laws! 🚫💸
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### ⚠️ What did they do?!
- FTX presented itself as a **secure platform** with strong protection for customer assets… 🛡️
But the truth?! 👀
**Alameda** enjoyed **secret privileges** 🤫:
➡️ **Exemption from risk controls**
➡️ **Semi-unlimited line of credit** backed by **FTX customer funds**! 💸
➡️ Caroline Ellison used these funds for:
📉 Losing trading
🏠 Buying luxury properties
💰 Lending it to senior managers – **including Sam Bankman-Fried**! 😳
### 💻 Wang and Singh?!
- They designed a **secret code** that allowed **withdrawals of customer funds** directly from FTX to Alameda! 🕳️
- These funds were not only used for trading… but for personal financing of the inner elite! 🤑
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### ⏳ Civil penalties (in addition to criminal penalties!)
🔹 **Caroline Ellison**:
✅ Ban on **10 years** from holding any leadership position in a public company! 🚫👔
🔹 **Gary Wang** and **Nishad Singh**:
✅ Ban on **8 years** from leadership positions! 🚫📊
🔹 In addition to **5-year behavior-based injunctions**…
Which means that any suspicious step = **immediate intervention from the SEC**! 🚨👮♂️
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### 📅 Status until December 2025:
🏠 **Caroline Ellison** – under **house arrest**…
And she is expected to be released **early 2026**! 🗓️
🔓 **Gary Wang** and **Nishad Singh** –
After their full cooperation with authorities… they were released **under supervision**! 👀
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### 🧠 Why is this important for crypto investors?!
✅ Because it is a **clear message** to the industry:
> “**No one is above the law** – even in the decentralized crypto world!” ⚖️🌍
✅ Because it shows how **giant platforms can collapse** due to **poor governance and lack of transparency**! 🏚️
✅ And because it is a constant reminder:
> **Don't invest in what you don't understand**…
> **Trust only what you see reviewed and transparent!** 🔍🛡️
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