Gary Wang and Caroline Ellison Plead Guilty to Fraud as SBF Lands In US

After pleading guilty, the two FTX/Alameda leaders face 50 and 110 years in prison, respectively.

December 22, 2022

Listen on:

Brett Harrison

Founder and CEO

Architect

Don't miss "FTX: What Happened" with the former president of FTX's U.S. arm and Anthony Scaramucci.

Secure Your Seat

Brett Harrison

Founder and CEO

Architect

Don't miss "FTX: What Happened" with the former president of FTX's U.S. arm and Anthony Scaramucci.

Secure Your Seat

Host

Nathaniel Whittemore

This episode is sponsored by Nexo.io, Circle and Kraken.

In breaking news last night, Sam Bankman-Fried was extradited from the Bahamas to the U.S. to face charges ranging from wire fraud to campaign finance fraud. Almost as soon as the plane took off, the U.S. Attorney for the Southern District of New York announced that Alameda’s Caroline Ellison and FTX’s Gary Wang had pleaded guilty and were cooperating with prosecutors. NLW breaks down everything we learned in the last 24 hours.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Back To The End” by Strength To Last. Image credit: Joe Raedle/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.