FTX Crypto Exchange Co-Founder Avoids Prison Sentence for Fraud The co-founder of the bankrupt crypto exchange FTX$FTT , 32-year-old Gary Wang, whose testimony formed the basis for the sentencing of the former head of the exchange Sam Bankman-Fried, has avoided a prison term, Reuters reports. The infamous FTX exchange was once among the market leaders, but went bankrupt in November 2022, thereby triggering a collapse of the crypto market. In late January 2024, FTX bankruptcy trustees finally abandoned attempts to revive it. Former FTX CEO Sam Bankman-Fried has been sentenced to 25 years in prison for fraud and embezzlement of client funds. Wang met Bankman-Fried at MIT and later became co-founder and CTO of FTX.$XRP $SOL