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.

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.

Mr. Wang is the last close colleague of the FTX founder Sam Bankman-Fried to be sentenced for the fraud that caused the crypto exchange to collapse in 2022.

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 has been sentenced to no time in prison after a prosecutor and a judge praised his cooperation against Sam Bankman-Fried and his efforts to recover money for victims of the cryptocurrency fraud.

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.