FTX Co-Founder Gary Wang Avoids Prison After Cooperation in Fraud Case

Gary Wang, who played a minor role in the $8 billion FTX fraud, was sentenced to time served and praised for aiding prosecutors against Sam Bankman-Fried.

Gary Wang, former CTO and co-founder of FTX, received no prison time and three years of supervised release for his involvement in the crypto exchange's collapse.
U.S. District Judge Lewis Kaplan commended Wang's immediate cooperation, stating his culpability was minimal compared to other defendants in the case.
Wang was instrumental in helping prosecutors build their case against FTX founder Sam Bankman-Fried, who is serving a 25-year sentence for fraud.
Prosecutors highlighted Wang's technical contributions, including creating tools to detect financial fraud in stock and cryptocurrency markets.
Wang expressed remorse for his actions and pledged to dedicate his life to making amends, with his sentencing marking the conclusion of punishments for FTX's inner circle.