FTX CTO Gary Wang avoids prison time

Date:

November 20, 2024

Not every former top FTX executive is heading to prison.

Gary Wang, former FTX chief technical officer, was spared prison time by U.S. District Judge Lewis Kaplan today. Judge Kaplan praised Wang’s cooperation with federal authorities. Wang testified against former FTX founder and CEO Sam Bankman-Fried at his trial last fall.

Wang pleaded guilty to four felony counts of fraud and conspiracy.

Former FTX CEO Bankman-Fried was sentenced to 25 years in prison last year, a sentence he filed to appeal in September. Caroline Ellison, the former CEO of FTX-affiliated Alameda Research, was sentenced to two years in prison in September.

FTX and Alameda both filed for Chapter 11 bankruptcy in November 2022 following a run on FTX’s assets by investors and revelations of fraudulent activity at the company.

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Lisa Holden

Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

FTX CTO Gary Wang avoids prison time

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