
little known ftx Co-founder Gary Wang is reportedly cooperating with prosecutors after pleading guilty to fraud in December.
Cooperation between Wang and prosecutors has centered around his role at FTX, including his role in the operation and subsequent collapse of major crypto exchange, Insider. informed of on Tuesday.
Further details on how Wang is cooperating with prosecutors are scarce, but it’s possible she may have made some sort of deal in exchange for a reduced sentence.
In the report, Wang was said to be a “key player during the rise and fall” of FTX, but also a man who was naive and always believed that the people around him were good.
“From a young age, he was very quiet and focused entirely on what interests him most, math and coding,” the insider quoted Wang’s father as saying about his son.
Wang, who served as FTX’s chief technology officer, was the company’s second-largest shareholder after Sam Bankman-Fried. However, he is often seen as a bit of a mystery due to his presence online and in the media.
In the insider piece, Wang was described as a “reclusive person” who kept a low profile, and who reportedly did not even show his face on a profile picture in the company’s internal system.
Wang, who first got to know Bankman-Fried during a math camp they both attended as teenagers, described her as “one of the few employees who worked from home and learned coding”. I loved getting stuck in.”
“Gary always struck me as someone who was like, ‘Just tell me what to do and leave me alone,'” an FTX insider previously said.
The Securities and Exchange Commission (SEC) has charged Wang with “a multi-pronged scheme to defraud equity investors in FTX”.
In December, his attorney said that “Gary accepts responsibility for his actions and takes seriously his obligations as a cooperating witness.”
Bankman-Fried in March pleaded not guilty to five additional charges brought against him by prosecutors, after the first plea of not guilty to fraud and other charges in Jan.
The indictment of the former FTX CEO now includes 13 counts, and includes details about political donations that prosecutors argue were made in violation of campaign finance rules.
Bankman-Fried has admitted in the past that some mistakes were made during the running of FTX, while also maintaining that she does not feel she was criminally liable.
Other FTX key people, including former director of engineering Nishad Singh and former Alameda Research CEO Caroline Ellison pleaded guilty to the charges against him.