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Salon
Salon
Natalie Chandler

YOU WONT BELIEVE: Ftx co founder avoids prison time - You Need To See This

FTX Gary Wang Prison Sam Bankman-Fried CNBC

Gary Wang, co-founder and chief technology officer of FTX, was sentenced to no time in prison on Wednesday, two years after the cryptocurrency firm collapsed and faced accusations of defrauding customers.

Wang testified over several days last year at the trial of FTX founder Sam Bankman-Fried, who was convicted of fraud and conspiracy and sentenced to 25 years in prison. The firm misappropriated over $11 billion of funds that belonged to customers, investors and lenders, The Associated Press reported. 

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