30s Summary

Former FTX chief tech whiz Gary Wang has managed to avoid jail time, following the company’s 2021 bankruptcy. Wang cooperated with prosecutors following FTX’s collapse, a move which was viewed favourably by the judge. Other ex-FTX staff including former Alameda Research CEO Caroline Ellison, and ex-engineering boss Nishad Singh have also dodged jail. Ex-FTX member Ryan Salame is currently serving a seven-and-a-half-year sentence for campaign financing fraud. Wang has expressed regret for his involvement in the FTX scandal.

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Gary Wang, who used to be the chief tech whiz at FTX, has avoided a jail sentence, according to a court decision made on Wednesday. After FTX went bust in 2021, Wang ran straight to the prosecutors to let them in on what had gone down. The judge in his case felt that his act of cooperating with the authorities deserved a huge thumbs-up.

Even though he was the last shot-caller from FTX to receive a sentence, Wang isn’t the first to dodge jail time. In fact, Caroline Ellison, Sam Bankman-Fried’s ex-girlfriend and former CEO of Alameda Research, and Nishad Singh, ex-engineering boss at FTX, also stayed out of prison.

Not everyone was so lucky, though. Ryan Salame, for instance, is serving a seven-and-a-half-year sentence for playing foul in campaign financing. Gary hasn’t stayed totally silent on this matter, though, apologizing for his part in the FTX scam, saying he wishes he could turn back time and change a lot of things.