FTX co-founder Gary Wang, center, near the federal courthouse in Manhattan as he was set to testify again on Oct. 10, 2023 (Victor Chen/CoinDesk) Gary Wang, the former chief technology officer at FTX, was spared prison time by a judge on Wednesday.

Wang is the fifth FTX executive who has faced sentencing in relation to the high-profile collapse of FTX in 2022. Bankman-Fried is currently serving a 25-year sentence in federal prison.

FTX co-founder Gary Wang skirted prison time unlike his counterparts for fraud charges related to the collapse of the cryptocurrency exchange.

An apologetic FTX co-founder was sentenced Wednesday to no time in prison after a prosecutor and a federal judge praised his cooperation against Sam Bankman-Fried and his efforts to recover money for victims of the cryptocurrency fraud.

Gary Wang, one of the FTX co-founders who pleaded guilty to massive fraud, was sentenced to time served after testifying against Sam Bankman-Fried.

Gary Wang, who was a close friend and colleague of disgraced cryptocurrency mogul Sam Bankman-Fried, on Wednesday avoided prison time for his role in the collapse of the FTX crypto exchange after he cooperated with US prosecutors.

Wang pleaded guilty to four felony counts of fraud and conspiracy. Former FTX CEO Bankman-Fried was sentenced to 25 years in prison last year, a sentence he filed to appeal in Sep

Gary Wang, co-founder of FTX, walked out of a Manhattan courtroom on Wednesday with a sentence of time served, dodging prison time for his part in the collapse of the crypto giant. U.S. District Judge Lewis A.