FTX co-founder and former CTO Gary Wang continues to work with US authorities after giving his testimony on the trial of his faculty roommate and ex-colleague, Sam Bankman-Fried.
Wang is among the many FTX executives who have been charged following the collapse of the FTX crypto change. He pleaded responsible to 4 felony counts in December 2022.
In a sentencing memorandum filed on November sixth, Wang’s attorneys ask the court docket to contemplate how their consumer cooperated with the federal government and prolonged help past the prosecution of Bankman-Fried.
“Gary has made himself accessible to testify at two different trials on this district. He has met with the Authorities and Federal Bureau of Investigation (FBI) particular brokers to help efforts to make use of FTX’s database to advance different pending investigations.”
The attorneys say that Wang additionally labored with US authorities to develop instruments that may doubtlessly mitigate the dangers of monetary fraud.
“In an extra, extraordinary step, Gary has labored with the Authorities to design and construct a brand new software program instrument to detect potential monetary fraud in public markets and, at prosecutors’ route, is presently growing a separate instrument targeted on figuring out illicit exercise on crypto exchanges.”
The court docket doc, which was submitted forward of Wang’s sentencing on November twentieth, is asking the court docket to spare the 31-year-old from jail time.
“A custodial sentence would fail to account for his relative culpability and distinctive cooperation, and unnecessarily disrupt his means to additional help the Authorities and proceed contributing to his household and the broader world.”
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