Embattled FTX Co-Founder Gary Wang Is Building US Authorities a Tool To Track Illicit Activity on Crypto Exchanges

FTX co-founder and former CTO Gary Wang continues to cooperate with US authorities after testifying on the trial of his roommate and ex-colleague Sam Bankman-Fried.

Wang is among the many FTX executives charged following the collapse of the FTX crypto trade. He pleaded responsible to 4 felony counts in December 2022.

In a sentencing memorandum filed Nov. 6, Wang’s attorneys ask the courtroom to think about how their consumer cooperated with the federal government and offered help past Bankman-Fried’s prosecution.

“Gary has made himself obtainable to testify at two different trials on this district. He has met with authorities and Federal Bureau of Investigation (FBI) particular brokers to help efforts to make use of FTX’s database to advance different ongoing investigations.

The legal professionals say Wang has additionally labored with U.S. authorities to develop instruments that would probably restrict the dangers of economic fraud.

“In a unprecedented subsequent step, Gary has labored with the federal government to design and construct a brand new software program software to detect potential monetary fraud in public markets and, on the path of prosecutors, is at the moment growing a separate software aimed toward figuring out of unlawful cryptocurrency actions. exchanges.”

The courtroom doc, which was filed previous to Wang’s Nov. 20 sentencing, asks the courtroom to spare him the 31-year jail sentence.

“A jail sentence would disregard his relative culpability and distinctive cooperation, and would unnecessarily disrupt his skill to advance the federal government and proceed to contribute to his household and the world.”

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