Gary Wang, a Top FTX Executive, Is Given No Prison Time

Published On Nov 20, 2024, 10:44 AM

Gary Wang, a former executive at the FTX cryptocurrency exchange, was sentenced to three years of supervised release without prison time due to his cooperation with prosecutors regarding the collapse of FTX. He had pleaded guilty to participating in the theft of $8 billion from FTX customers and testified against founder Sam Bankman-Fried, who was sentenced to 25 years for several counts of fraud and money laundering. Wang's lenient sentence reflects the judge's recognition of his cooperation during the investigation.