Manhattan U.S. Attorney Damian Williams said in a video posted on Twitter late Wednesday night that two former associates of FTX founder Sam Bankman-Fried have pleaded guilty to fraud charges and are now co-operating with the government. Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, have pleaded guilty to defrauding investors in the crypto trading platform, Williams said. The revelation that two of Bankman-Fried’s closest former associates have decided to co-operate with the government significantly ramped up pressure on the former billionaire.
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