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What will be the outcome of Sam Bankman-Fried's sentencing by end of 2024?
3
Resolution / Starting Odds
Less than 5 years • 25%
5 to 10 years • 25%
More than 10 years • 25%
No prison time • 25%
Court sentencing records and news reports
Story
FTX Co-founder and CTO Gary Wang Sentenced to Time Served in $8 Billion Crypto Fraud
Nov 20, 2024, 03:47 PM
On November 20, Gary Wang, co-founder and former chief technology officer of FTX, was spared prison time by a U.S. judge over his role in the multibillion-dollar fraud at the cryptocurrency exchange. Wang, who pleaded guilty in December 2022 to fraud charges, admitted to creating the software code that allowed Alameda Research to divert approximately $8 billion in FTX customer funds. His extensive cooperation with prosecutors, including key testimony against FTX founder Sam Bankman-Fried, led the judge to sentence him to time served. This decision concludes the FTX criminal cases, with Wang avoiding prison and Bankman-Fried awaiting sentencing.
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Convicted • 33%
Acquitted • 33%
Mistrial • 33%
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Pending • 33%
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Pending • 33%
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Sentence increased • 25%
Appeal withdrawn • 25%
