Gary

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/crypto-live-news/gary-wang-testifies-against-exchange-co-founders-in-fraud-trial/">Gary Wang Testifies Against Exchange Co-founders in Fraud Trial!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p>
<p>Former FTX chief technology officer, Gary Wang, has testified that the exchange used hidden Python code to misrepresent the value of its $100m insurance fund and that it never actually contained any of the exchange’s FTX tokens, as claimed. He also said that the fund was often insufficient to cover losses. Wang has pleaded guilty to charges brought against him but has now testified against FTX co-founder Sam Bankman-Fried, former FTX director of engineering Nishad Singh and former Alameda Research CEO Caroline Ellison, who have all been charged with wire fraud, commodities fraud and securities fraud.</p>

Gary Wang Testifies Against Exchange Co-founders in Fraud Trial!

CoinPedia News

Other articles published on Oct 9, 2023

CertiK Alert reports zkFlex Finance exit scam

(NYSE: ORCL): Top AMCs Increased Their Stake, Gave a Buy Rating

Bitcoin Price Analysis: Negative Technical Sentiment Expanding – 10 October 2023

Crypto Products Record $78 Million Inflows, Marks Highest Point Since July: Report

Innovation to Prevent Stampedes at Music Venues and Stadiums Nominated for National Award

Solana (SOL) Price Loses Key Momentum Following Its Largest Inflow Week Since March 2022

Join our free newsletter for daily crypto updates!