Two prominent executives embroiled in the FTX scandal pleaded guilty to federal charges, the top prosecutor for the Southern District of New York announced Wednesday.
Caroline Ellison, former CEO of Alameda Research, and Zixiao "Gary" Wang, the former chief technology officer and co-founder of FTX, are said to be cooperating with prosecutors and were also hit with a civil complaint from the Securities and Exchange Commission for alleged fraud.
"Both Miss Ellison and Mr. Huang have pled guilty to those charges, and they're both cooperating," U.S. Attorney Damian Williams revealed. "If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it. We are moving quickly and our patience is not eternal."
