FTX CTO assists UnitedStates federalgovernment construct crypto exchange scams detection tools in quote to prevent jail

FTX CTO assists UnitedStates federalgovernment construct crypto exchange scams detection tools in quote to prevent jail

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Gary Wang utilizes tech know-how to help federal examinations and style anti-fraud tools for crypto oversight.

FTX CTO helps US government build crypto exchange fraud detection tools in bid to avoid prison

Author: Yuki Iwamura

Key Takeaways

  • Gary Wang is establishing softwareapplication tools to discover scams in crypto exchanges.
  • Wang’s cooperation is part of a plea offer to prevent jail time after the FTX scandal.

Gary Wang, co-founder and previous CTO of stoppedworking crypto exchange FTX, is helping the federal federalgovernment in establishing softwareapplication tools to identify monetary scams and illegal activities on crypto exchanges, according to a court file submitted ahead of his November 20 sentencing.

“Gary has worked with the federalgovernment to style and develop a brand-new softwareapplication tool to find prospective monetary scams in public markets,” Wang’s legalrepresentatives composed in a Wednesday court filing.

They included that the FTX co-founder is “developing a different tool focused on recognizing illegal activi

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