Gary Wang, a co-founder of the defunct cryptocurrency exchange FTX, was sentenced to time served and three years of supervised release for his role in a significant $8 billion fraud scheme. This sentencing marks the conclusion for former FTX employees punished in relation to the exchange's dramatic downfall.
Wang's sentencing follows a broader investigation into FTX, highlighting the extensive fraudulent activities that led to the exchange's collapse. Despite the seriousness of the charges, Wang avoided prison time, raising questions about accountability in the crypto industry.
