FTX Collapse: Two Bankman-Fried Associates Turn Against Him

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By Luc Olinga The 30-year-old former trader faces a series of criminal and civil charges in the bankruptcy of his crypto empire. This is a huge blow for Sam Bankman-Fried, the fallen co-founder of FTX, the bankrupt cryptocurrency exchange. The regulators’ case accusing him of fraud and conspiracy to defraud FTX’s clients and investors has strong support: the cooperation of two of his associates. Zixiao (Gary) Wang, 29, former FTX co-founder and Chief Technology Officer, and Caroline Ellison, 28, the former CEO of Alameda Research, the hedge fund founded by Bankman-Fried, have pleaded guilty to…

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