Ex-ftx managers Nishad and Gary are convicted in October and November

• Nishad Singh and Gary Wang will be convicted of FTX fraud on October 30th and November 20th.
• Your cooperation in the procedure against Sam Bankman-Fried can lead to a reduction in penalty.
• Ryan Salame received 90 months for a lack of cooperation, Bankman-Fried 25 years.

The former FTX executives Nishad Singh and Gary Wang, key figures in the dramatic collapse of the FTX cryptocurrency exchange, are to be convicted this year.

US district judge Lewis Kaplan has set the judgment for Singh on October 30th and for Wang on November 20th.

Both played a decisive role in the events before and after the fall of FTX, one of the most spectacular bankruptcy in the cryptocurrency industry.

the case of ftx

ftx, once a leading cryptocurrency exchange, collapsed in 2022 in the middle of allegations of massive fraud and financial misconduct.

Nishad Singh, the former technical manager, and Gary Wang, co -founder of FTX, were significantly involved in the company's operation. Their actions and the other managers contributed to considerable financial losses for users and investors.

Singh and Wang owed in several charges, including fraud and money laundering. Singh's confession of guilt was submitted in February 2023. They cooperated extensively with the US authorities, which could have an impact on their sentence.

During the criminal trial against the former FTX CEO Sam Bankman-Fried (SBF), their statements were of crucial importance.

The revelations of Singh and Wang about the internal processes at FTX and Alameda Research provided valuable insights into the extent of the alleged fraud.

Singh said that Bankman-Fried had the sole control of Alameda's money, and emphasized his growing distrust of the former CEO.

Wang's statement illuminated how the stock exchange with the help of hidden codes incorrectly represented the value of their insurance fund, so that it did not cover the losses of the users.

The cooperation between Singh and Wang has led to speculation that they could be given a lower punishment.

The statements of Singh and Wang carried to convict the SBF at

The statements of Singh and Wang as well as that of Caroline Ellison, the former CEO of Alameda Research, contributed significantly to the conviction of Sam Bankman-Fried.

Richter Kaplan convicted Bankman-Fried to 25 years in prison, one of the toughest punishments so far in the cryptocurrency industry.

The detailed reports by Singh and Wang drew a picture of systematic fraud and blatant mismanagement at FTX, which led to the fall of Bankman-Fried.

also Ryan Salame, the former CO CEO from FTX Digital Markets, had to expect legal consequences. Unlike Singh and Wang, Salame did not cooperate with the authorities, which led to a 90-month prison sentence. His lack of cooperation and the subsequent condemnation underline the potential benefits of supporting the investigation that Singh and Wang may be experienced.

While Singh and Wang are waiting for their verdict, the cryptocurrency community remains vigilant. Your cooperation and the results of your cases could create significant precedent in this, as is spoken of in complex cases of financial fraud.

Meanwhile, Sam Bankman-Fried continues to sit in the Metropolitan Detention Center in Brooklyn, where his lawyer team prepares the appeal against his conviction.

In the meantime, the FTX saga continues. Banking and collecting lawsuits are still in progress because the parties concerned demand justice and reparation.