February 4, 2023

The investigation into the bankruptcy of Sam Bankman-Fried’s cryptocurrency empire is underway.

US regulators just won two major victories in quick succession.

They have announced that they have received the cooperation of two Bankman-Fried employees, which should allow them to build their case against the 30-year-old former trader.

Zixiao (Gary) Wang, 29, former co-founder of FTX 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 federal charges in the Southern District of New York, according to court documents published Dec. 21.

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