FTX co-founder Gary Wang and Alameda’s Caroline Ellison plead guilty to criminal charges • TechCrunch

The FTX/Alameda saga continues, with news late Wednesday that two key associates of Sam Bankman-Fried have been charged and charged with federal crimes in the United States: Both the former CEO Alameda executive Caroline Ellison and FTX co-founder Gary Wang both pleaded guilty to multiple counts. Accepted charges and plea agreements offered reduced sentences in exchange for assistance in ongoing investigations of misconduct at FTX/Alameda that proved to be “substantial.”

While, Sam Bankman-Fried was also extradited to the US from the Bahamas on Wednesday, faces SEC and CFTC lawsuits over fraud, as well as federal criminal charges. When attorney Damian Williams of the Southern District of New York announced the charges at a press event last week, he noted that his office was “not done” on the application of additional charges. Sung, and we now know that Ellison and Wang were at least some of the individuals he mentioned at the time.

Ellison and Wang are likely to be key federal witnesses in the SBF case, as they most likely have the best and first-hand knowledge SBF knows of using FTX client funds to pay for Alameda’s risky cryptocurrency trading bets.

This also may not be the end of the allegations against individuals at FTX and Alameda – Williams reiterated at the press conference announcing the charges against Ellison and Wang that if anyone else was weighing Consider standing up to assist the authorities in prosecuting their cases in exchange for possible leniency, now is the time.

Both Ellison and Wang also face civil penalties from the SEC and CFTC, announced alongside the criminal charges.