FTX Co-Founder Gary Wang Pleads for No Jail, Citing Key Testimony Against Bankman-Fried

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FTX co-founder Gary Wang asks for no jail time, stressing his role as a key witness against Sam Bankman-Fried. Wang claims limited involvement in FTX's fraud.

FTX Co-Founder Gary Wang Pleads for No Jail, Citing Key Testimony Against Bankman-Fried

Gary Wang, co-founder and former technology chief of FTX, has asked a Manhattan judge for no jail time, highlighting his cooperation in the conviction of Sam Bankman-Fried. Wang, set to be sentenced on Nov. 20, argues he played a minor role compared to others like former Alameda CEO Caroline Ellison and FTX’s lead engineer Nishad Singh.

In his Nov. 6 memo, Wang points to his cooperation and testimony as central to Bankman-Fried's conviction. His lawyers argue a prison sentence would unfairly punish him more than Singh, who avoided jail time.

Wang revealed he followed Bankman-Fried’s directions to alter FTX’s code, which allegedly enabled Alameda Research to misuse customer funds. He says he was unaware of the full scope of fraud and was misled by Bankman-Fried.

Since his plea, Wang has aided prosecutors and FTX’s bankruptcy team. He argues jail would prevent him from supporting his family and assisting the government in crypto fraud detection.

Bankman-Fried appealed his 25-year sentence, claiming he never received a fair trial. Judge Lewis Kaplan will sentence Wang on Nov. 20.

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Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.