Three of the five individuals indicted in the FTX case have been sent to prison, while one was given time served.
On Nov. 20, FTX co-founder Zixiao “Gary” Wang will stand before a judge in a New York courtroom and learn whether he will spend years of his life in prison or be allowed to remain free after pleading guilty to fraud charges.
Wang, one of five former FTX and Alameda Research executives named in an indictment related to the collapse of the cryptocurrency exchange and the misuse of user funds, is expected to be sentenced in the United States District Court for the Southern District of New York on Nov. 20. He pleaded guilty to wire fraud, commodities fraud, and securities fraud and testified at Sam “SBF” Bankman-Fried’s criminal trial, which may have contributed to the former FTX CEO being sentenced to 25 years in prison.
The 31-year-old could be the last individual criminally involved in the FTX case to appear in court after the sentencing of Bankman-Fried, former Alameda CEO Caroline Ellison, and former FTX Digital Markets co-CEO Ryan Salame, all of whom received prison time. However, a judge sentenced Nishad Singh, the crypto exchange’s former engineering director, to time served in October.
