Page 28 - 期货和衍生品行业监管动态（2022年12月）

期货和衍生品行业监管动态

digital assets including bitcoin and ether, were held in “custody” by FTX and
segregated from FTX ’ s own assets. To the contrary, FTX customer assets were

routinely accepted and held by Alameda and commingled with Alameda’s funds.

Alameda, Bankman-Fried, and others also appropriated customer funds for their own

operations and activities, including luxury real estate purchases, political

contributions, and high-risk, illiquid digital asset industry investments. The complaint

further alleges that, at Bankman-Fried’s direction, FTX employees created features in

the FTX code that favored Alameda and allowed it to execute transactions even when

it did not have sufficient funds available, including an “allow negative flag” and

effectively limitless line of credit that allowed Alameda to withdraw billions of

dollars in customer assets from FTX. These features were not disclosed to the

public.

In its continuing litigation against the Defendants, the CFTC seeks restitution,
disgorgement, civil monetary penalties, permanent trading and registration bans, and a

permanent injunction against further violations of the Commodity Exchange Act

(CEA) and CFTC regulations, as charged.

The CFTC cautions that orders requiring repayment of funds to victims may not

always result in the recovery of lost money because the wrongdoers may not have

sufficient funds or assets.

Parallel Criminal/Civil Enforcement Action

In a parallel, separate action, on December 13, 2022, the United States Attorney

for the Southern District of New York unsealed an indictment charging

Bankman-Fried with wire fraud, commodities fraud, securities fraud, and money

laundering. Also, on December 13, 2022, the Securities and Exchange Commission

charged Bankman-Fried with securities fraud.

https://www.cftc.gov/PressRoom/PressReleases/8638-22

12