FTX co-founder admitted to defrauding investors and financial fraud
During his trial against Curly Sam, Gary Wang claimed to have committed electronic money, securities and commodities fraud.
Wang also admitted to the existence of a “loophole” that allowed Alameda Research to withdraw capital from FTX in virtually unlimited amounts.
According to him, Sam Bankman-Fried was aware of the manipulation. Moreover, the relaunch of the exchange could take place as early as next year 🤪
#bitcoin
#cryptocurrency
During his trial against Curly Sam, Gary Wang claimed to have committed electronic money, securities and commodities fraud.
Wang also admitted to the existence of a “loophole” that allowed Alameda Research to withdraw capital from FTX in virtually unlimited amounts.
According to him, Sam Bankman-Fried was aware of the manipulation. Moreover, the relaunch of the exchange could take place as early as next year 🤪
#bitcoin
#cryptocurrency