CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
CryptoGlobe 2023-10-09 07:31:49

FTX Co-Founder Gary Wang Testifies: Company Misrepresented $100 Million Insurance Fund

Gary Wang, the co-founder and former Chief Technology Officer of now-defunct crypto exchange FTX testified on 6 October 2023 that the company had manipulated the value of its insurance fund. This fund was purportedly established to safeguard users from significant losses during large-scale liquidation events. According to a report by Tom Mitchelhill for Cointelegraph published

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.