Gary Wang (American businessman)
Gary Wang | |
|---|---|
| Born | 1992 China |
| Occupation(s) | Software engineer, entrepreneur |
| Years active | 2017–present |
| Known for | Co-founder and CTO of FTX |
Gary Wang (born ) is an American software engineer and co-founder of the cryptocurrency trading platform FTX, which he launched in 2019 alongside Sam Bankman-Fried. As FTX expanded swiftly, Wang achieved a ranking of 227th on the Forbes 400 list and was placed 431st among the richest person in the world by The World's Billionaires in 2022. After FTX declared bankruptcy, he admitted guilt to charges including wire fraud and agreed to provide testimony against Bankman-Fried. Before founding FTX, Wang was employed at Google Flights, where he contributed to developing ticket price aggregation systems.
Early life and education
Originally from China, Wang relocated to the United States at the age of eight. He completed his secondary education at Cherry Hill High School East in New Jersey in 2011. In 2010, during his time at Canada/USA Mathcamp, he met Sam Bankman-Fried. Following high school, Wang pursued studies in mathematics and computer science at the Massachusetts Institute of Technology (MIT). During his time there, he shared a dormitory with Bankman-Fried for three years and was affiliated with the coeducational fraternity Epsilon Theta.
Upon graduation, Wang joined Google Flights, where he worked on systems designed to consolidate airline ticket pricing. In 2017, he departed Google to become part of Bankman-Fried’s Alameda Research. Two years later, in 2019, Wang and Bankman-Fried established FTX together.
FTX
Within FTX, Wang held the position of chief technology officer and was the second-largest equity holder, possessing 17% ownership of FTX and a 10% stake in Alameda Research, a related company co-founded by Bankman-Fried. Recognized for his exceptional technical expertise and vital role in the company’s functionality, Wang concentrated solely on software development, deliberately avoiding managerial or communication duties.
On December 18, 2022, Wang entered a guilty plea through a plea bargain in the Southern District of New York court to charges including wire fraud and conspiracy tied to deceiving FTX customers, cooperating fully with prosecuting authorities. His legal counsel confirmed that he acknowledged his wrongdoing and is actively assisting ongoing investigations.
As part of his agreement, Wang testified during United States v. Sam Bankman-Fried that he altered FTX’s software code to provide Alameda Research with preferential access, facilitating the unauthorized transfer of up to $65 billion from FTX clients between 2019 and 2022—misconduct he confessed to having publicly misrepresented.