Page 28 - 期货和衍生品行业监管动态（2024年8月刊）

期货和衍生品行业监管动态

FTX and to subordinate its monetary claims to those of victims of the FTX fraud

scheme. As described by FTX in its proposed reorganization plan filed in the

bankruptcy proceeding, payments by FTX towards its CFTC disgorgement obligation

will be used to further compensate victims through a supplemental remission fund.

The plan remains subject to approval in the bankruptcy proceeding.

“FTX used age-old tactics to create an illusion that it was a safe and secure place

to access crypto markets. But the basic regulatory tools, like governance, customer

protections, and surveillance that exist to identify misconduct and ultimately prevent

collapse, were simply not there,” said CFTC Chairman Rostin Behnam. “Like

countless other CFTC crypto resolutions, including major players Binance, BitMEX,

and Tether, this resolution with FTX is consistent with the enforcement commitments

I have long made as Chairman. But, as I have been saying for years, this is just the tip

of the iceberg. In the absence of digital asset legislation to fill regulatory gaps, entities

will continue to operate in the shadows without these basic tools of sound regulation,

sharpening their deceptive practices and continuing to dupe customers.”

Division of Enforcement Director Ian McGinley added, “Not only is this

multi-billion dollar recovery for victims the largest such recovery in CFTC history, we

achieved it with remarkable speed. FTX’s massive fraud collapsed 21 months ago and
in that time the CFTC investigated, filed a complaint, and achieved what many

thought was impossible at the time of the collapse - a resolution to compensate

victims for the losses they suffered. I commend our Chicago-based team for their

tireless efforts on behalf of FTX’s victims.”

Case Background

The consent order stems from the CFTC complaint filed December 13, 2022

against Bankman-Fried and FTX, and amended December 21, 2022, to include two

former FTX executives, Caroline Ellison and Zixiao “Gary” Wang. The CFTC

complaint charged Bankman-Fried, who controlled FTX and Alameda, with

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