Tag Archives: Gary Wang

Gary Wang, the co-founder of the now-bankrupt cryptocurrency exchange FTX, is seeking to avoid prison time as he awaits sentencing scheduled for November 20 in Manhattan federal court. He has asked a federal judge to consider his cooperation in the fraud trial against his long-time friend and former FTX CEO, Sam Bankman-Fried, also known as SBF. Cooperation and Lesser Role in Fraud According to a Bloomberg report citing his sentencing memo filed on Wednesday, Wang’s attorney,...

An upswing in a claim’s valuation signals an increase in the anticipated recovery worth. SBF’s inner circle – Caroline Ellison, Gary Wang, and Nishad Singh – might have to pay heavy penalties. On Thursday, November 2, the US court finally convicted FTX co-founder Sam Bankman-Fried of seven criminal charges. The sentencing will take place next year around March 2024. Interestingly, amid this development, FTX‘s claim price also surged by a staggering 57%. Fundamentally, a claim signifies an...

FTX co-founder Gary Wang revealed more details of Alameda Research’s corrupt relationship with his exchange during Sam Bankman-Fried’s fraud trial on Friday. During his testimony, Wang claimed that the function required for Alameda to steal client funds had been baked into FTX’s computer systems back in 2019. Alameda’s Special Privileges As summarized by Inner City Press over Twitter, Gary Wang said Alameda was granted three special privileges at FTX compared to other...

Sam Bankman-Fried – the former head executive of the now fallen crypto exchange FTX – has pleaded not guilty to all counts of fraud. This means his case will potentially be heard by a jury. Sam Bankman-Fried Says He’s Not Guilty During a recent testimony, Bankman-Fried refused to speak for himself. Instead, it was his lawyer Mark Cohen who entered the not guilty plea on his behalf. Bankman-Fried’s mother was in attendance and sitting behind her son as the judge who will...

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