FTX co-founder Gary Wang seeks judge's ruling to avoid jail time before sentencing
On November 7th, FTX co-founder Gary Wang's lawyer argued that Wang should not be sentenced to prison, as he cooperated with authorities and was unaware of the extent of the exchange's criminal activities. According to a sentencing memorandum filed on Wednesday, Wang claimed he was unaware of Alameda Research, a sister company, misappropriating FTX customer funds and only learned of the situation after the fraudulent activity "had gone smoothly." Wang will be sentenced on November 20th in a New York court. His son is also due to be born on November 27th, and both he and his wife Cheryl Chen are full-time software engineers. The memorandum stated that his current work involves supporting "forensic companies, criminal investigators, and legal professionals seeking faithful preservation of evidence." Later, Wang testified in the trial of SBF, telling the court about SBF's secret granting of special privileges to Alameda Research's account on FTX. The lawyer also claimed, "it is critical, as the government has acknowledged and trial evidence has shown, that when Gary wrote the code, he did not know that Bankman-Fried would use these features to steal customer funds. Bankman-Fried did not even notify Gary before starting to use these features."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








