FTX co-founder and former CTO Gary Wang continues to work with US authorities after giving his testimony at the trial of his college roommate and ex-colleague, Sam Bankman-Fried.
Wang is among the FTX executives who were charged following the collapse of the FTX crypto exchange. He pleaded guilty to four criminal counts in December 2022.
In a sentencing memorandum filed on November 6th, Wang’s lawyers ask the court to consider how their client cooperated with the government and extended assistance beyond the prosecution of Bankman-Fried.
“Gary has made himself available to testify at two other trials in this district. He has met with the Government and Federal Bureau of Investigation (FBI) special agents to assist efforts to use FTX’s database to advance other pending investigations.”
The lawyers say that Wang also worked with US authorities to develop tools that can potentially mitigate the risks of financial fraud.
“In a further, extraordinary step, Gary has worked with the Government to design and build a new software tool to detect potential financial fraud in public markets and, at prosecutors’ direction, is currently developing a separate tool focused on identifying illicit activity on crypto exchanges.”
The court document, which was submitted ahead of Wang’s sentencing on November 20th, is asking the court to spare the 31-year-old from prison time.
“A custodial sentence would fail to account for his relative culpability and exceptional cooperation, and unnecessarily disrupt his ability to further assist the Government and continue contributing to his family and the wider world.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
