FTX founder Sam Bankman-Fried boarded a flight to the US on Wednesday to face fraud charges as federal prosecutors revealed that two of his former associates had admitted guilt and were now working with the government.
In a video posted on Twitter late on Wednesday, Manhattan US Attorney Damian Williams announced that Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the co-founder of FTX, had admitted guilt to defrauding investors in the cryptocurrency trading platform. Pressure on Bankman-Fried increased significantly after it was revealed that two of his closest ex-colleagues had chosen to work with the government.
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FTX founder Sam Bankman-Fried boarded a flight to the US on Wednesday to face fraud charges as federal prosecutors revealed that two of his former associates had admitted guilt and were now working with the government.
In a video posted on Twitter late on Wednesday, Manhattan US Attorney Damian Williams announced that Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the co-founder of FTX, had admitted guilt to defrauding investors in the cryptocurrency trading platform. Pressure on Bankman-Fried increased significantly after it was revealed that two of his closest ex-colleagues had chosen to work with the government.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.
