The SEC defines FTT as an 'FTX-issued exchange crypto security token' in its complaint.
SEC states that Ellison and Wang were charged for their role in the"multiyear scheme to defraud equity investors in FTX,” with the SEC also investigating whether other securities laws were violated as well.
As for the CFTC’s charges, amendments were made to its Dec. 13 fraud filing against Samuel Bankman-Fried, FTX Trading, and Alameda Research to now include Ellison and Wang as named defendants.
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