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FILE - Gary Wang, co-founder and former chief technology officer of FTX Cryptocurrency Derivatives Exchange exits the Manhattan federal court after testifying on Oct. 10, 2023, in New York.
NEW YORK (Reuters) -Former cryptocurrency executive Gary Wang, who unwittingly wrote the computer code that helped FTX founder Sam Bankman-Fried steal about $8 billion from customers of the now ...
Prosecutors with the US Attorney's Office in Manhattan had urged leniency, citing Wang's cooperation in the case against Bankman-Fried. SBF’s ex-deputy Gary Wang avoids prison over FTX fraud ...
Gary Wang (born c. 1993) [1] is an American computer programmer who co-founded the crypto currency exchange FTX with Sam Bankman-Fried.At the height of his success in 2022, Wang was ranked the 227th richest American in the Forbes 400, and the 431st richest person in the world by The World's Billionaires. [3]
FTX Trading Ltd., trading as FTX (Futures Exchange), [5] is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. [6] [7] The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang and collapsed in 2022 after massive fraud perpetrated by Bankman-Fried and his partner Caroline Ellison forced the company to file for Chapter 11 bankruptcy.
The collapse of FTX has resulted in a ripple effect across cryptocurrency markets, with the price of Bitcoin falling to its lowest level in two years. [14] In late 2022 and early 2023, key executives from FTX and Alameda, such as Caroline Ellison, Gary Wang, and Nishad Singh, pleaded guilty to defrauding FTX customers and related charges. [15]
Software developed by Wang allowed funds to be diverted from unwitting depositors at FTX, a crypto trading platform, to Alameda Research, a crypto hedge fund. Love hurts: Romance scam steals millions
U.S. prosecutors in New York waited until Bankman-Fried, the founder of the collapsed crypto exchange FTX, was in FBI custody before revealing that his business partners, Carolyn Ellison and Gary ...