Key Takeaways:
- Former FTX executives Nishad Singh and Gary Wang are scheduled for sentencing in late 2024 after testifying against Sam Bankman-Fried.
- Both executives pleaded guilty to charges linked to FTX’s collapse and cooperated with authorities, potentially affecting their sentences.
- Testimonies included Wang’s revelation of hidden code used to misrepresent FTX’s insurance fund and Singh’s account of Bankman-Fried’s fund misuse.
Former FTX executives Nishad Singh and Gary Wang, who testified against Sam Bankman-Fried, are set to be sentenced later this year.
Singh’s sentencing is scheduled for October 30, and Wang’s for November 20.
🔵 EX-FTX EXECUTIVES WHO TESTIFIED AGAINST BANKMAN-FRIED TO BE SENTENCED
— PiQ (@PiQSuite) July 9, 2024
Sentencing hearings have been scheduled for two former executives of bankrupt cryptocurrency exchange FTX who testified against founder Sam Bankman-Fried, court records showed on Tuesday.
Full Story via… pic.twitter.com/e8Ha337QJ1
Both pleaded guilty to charges related to the collapse of FTX and cooperated with authorities, potentially influencing their sentences.
Wang revealed the use of hidden code to misrepresent FTX’s insurance fund, and Singh testified about Bankman-Fried’s misuse of funds.
Bankman-Fried was sentenced to 25 years in prison, while another former executive, Ryan Salame, received a 90-month sentence.
The legal proceedings surrounding FTX’s collapse continue in bankruptcy court.
About The Author
Victor Fawole, a seasoned Web3 content creator and social media influencer, excels in bringing the pulse of the crypto world to our readers.
With a keen eye for emerging trends and a talent for engaging storytelling, Victor’s articles offer a fresh perspective on the ever-evolving digital currency landscape.
Check Victor out on:
