FTX co-founder Gary Wang is awaiting sentencing after assisting in the investigation. Let's break down the key aspects of this story.
Is the FTX story nearing its end?
Gary Wang is set to be the last of FTX's executives to be sentenced. Sam Bankman-Fried remains the only defendant who pleaded not guilty. Despite being imprisoned, new details keep emerging.
Meanwhile, Bankman-Fried’s assets are under threat
Prosecutors are seeking to seize crypto assets used for bribing Chinese officials before FTX's downfall in 2022, including $150 million in bribes.
As a result of the Investigation, the Government learned that on or about November 16, 2021, at Bankman-Fried’s direction, approximately 40 million USDT was transferred.Court filing
Meanwhile, the new FTX management is bombarded with lawsuits
The new FTX management continues to file lawsuits, including a $1.8 billion claim against Binance. Claims also involve U.S. exchange Crypto.com and FWD.US.
The FTX saga may soon conclude with Gary Wang's sentencing and the repayment of creditor debts.
