FTX co-founder Gary Wang has been sentenced to time served and will not serve additional time

ChainCatcher news, FTX co-founder and former CTO Gary Wang provided extensive cooperation to U.S. prosecutors, resulting in a sentence that has already been served, with no additional prison time.

Wang faced a maximum of 50 years in prison but began cooperating with authorities shortly after the collapse of FTX in November 2022.

Prosecutor Andrew Roos emphasized the uniqueness of Wang's cooperation, highlighting his technical expertise and willingness to assist from the very beginning. Roos stated, "He cracked half the case for us on the first day of cooperation." Wang's insights were crucial for understanding how FTX's code allowed the misappropriation of customer funds, which played a central role in the fraudulent activities associated with the exchange.