SEC charged Sam Bankman-Fried’s associates, Caroline Ellison and Gary Wang
The agency alleges that the group defrauded investors out of $1.8 billion
Its complaint also alleges that FTX’s token FTT is a security
The SEC’s recent filing is making crypto investors nervous. In its complaint against top associates of former FTX CEO Sam Bankman-Fried, the SEC called the FTX token (FTT) a security. The move will likely have important ramifications for the crypto industry.
The Securities and Exchange Commission (SEC) filed a complaint late Wednesday against Caroline Ellison and Gary Wang. Caroline Ellison is the former CEO of FTX’s sister firm Alameda Research, and Gary Wang is the FTX co-founder.
The complaint alleges that the pair helped Sam Bankman-Fried in defrauding FTX investors. In addition to the fraud charges, the SEC also claims that FTX issued FTT as an investment contract, which makes the token a security.
„If demand for trading on the FTX platform increas
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