Two associates of Sam Bankman-Fried have pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange FTX and are helping investigators with their inquiries. News of the charges, guilty pleas and the pair’s cooperation with the investigation was only announced once the FTX co-founder was on a plane to the US from the Bahamas after he agreed to voluntary extradition to answer to charges tied to his role in the exchange’s failure. The aircraft touched down in New York at 10pm local time. Carolyn Ellison, a former chief executive of Alameda Research, a trading firm started by Bankman-Fried, and Gary Wang, who co-founded FTX, pleaded guilty to charges “related to their roles in the fraud that contributed to FTX’s collapse”, US attorney Damian Williams said on Wednesday night. The criminal charges were paired with civil charges from the US Securities and Exchange Commission, accusing Ellison and Wang, as well as Sam Bankman-Fried, of securities violations related to the group’s in-house “FTT” cryptocurrency.
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