FTX co-founder Gary Wang, who is set to be sentenced for his involvement in the misappropriation of funds at the collapsed cryptocurrency exchange, might receive a time-served sentence. In a memorandum filed by U.S. prosecutors on November 13, they praised Wang’s significant cooperation in investigating FTX’s fraudulent activities and his supporting testimony during the trial of former CEO Sam Bankman-Fried, who was sentenced to 25 years in prison. They indicated that if Judge Lewis Kaplan grants a time-served sentence, Wang could contribute to developing a tool for identifying potential illegal activities in crypto markets. Prosecutors highlighted Wang's accountability, corroborated statements, and early guilty plea related to crimes, noting he accepted responsibility despite not being involved in all aspects of the fraud. Wang's upcoming sentencing is set for November 20, making him the last of the major FTX or Alameda Research executives to be sentenced, following guilty pleas from other key figures, all currently in federal custody.

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