Catenaa, Tuesday, December 22, 2025- The US Securities and Exchange Commission is seeking multi-year bans barring former Alameda Research CEO Caroline Ellison and former FTX executives Gary Wang and Nishad Singh from serving as officers or directors of public companies, according to a litigation release posted Friday.

The SEC said it has proposed final consent judgments in the Southern District of New York covering Ellison, Wang, the former FTX chief technology officer, and Singh, a former senior engineer at the exchange.

The proposed judgments remain subject to court approval.

Under the terms outlined by the agency, Ellison agreed to a 10-year officer and director bar. Wang and Singh each agreed to an eight-year bar.

All three consented to permanent injunctions prohibiting future violations of federal antifraud provisions, along with five-year conduct-based injunctions tied to securities laws.

The actions stem from the 2022 collapse of FTX and its affiliated trading firm Alameda Research.

The crypto exchange filed for bankruptcy in November 2022 following a liquidity crisis that exposed widespread misuse of customer funds. Alameda also failed soon after.

The SEC previously accused Ellison, Wang and Singh of defrauding investors by participating in a scheme that concealed the financial condition of FTX.

Regulators said Wang and Singh developed software code that allowed Alameda to access and redirect customer funds held by the exchange, which Ellison later used for trading activities.

The civil settlements follow criminal cases brought by federal prosecutors. Former FTX CEO Sam Bankman-Fried received a prison sentence of nearly 25 years. Wang and Singh were not sentenced to prison, while Ellison received a two-year sentence.

The SEC said the proposed bans are intended to prevent future misconduct in public markets.