- FTX top executive FTX Constance Wang is back in the crypto ecosystem with a new role at Sino Global.
- Before the FTX collapse, she had served as the COO of FTX and Co-CEO of FTX Digital Markets.
- Sam Bankman-Fried remains under house arrest after pleading not guilty in the FTX proceedings.
Zhe “Constance” Wang, a former top executive in Sam Bankman-Fried’s FTX, has joined crypto venture capital firm Sino Global Capitals, according to a Bloomberg report. Before the collapse of the FTX, she served as the Chief Operating Officer of the crypto exchange and Co-CEO of FTX Digital Markets.
Founded by Beijing-based investor Mathew Graham in 2015, Sino Global Capital was an early investor in FTX. Not only that, the company also launched a $200 million fund with FTX as a major investor a year before the company’s collapse.
Like most other companies with exposure to FTX, the collapse also affected its operations and position in the market. Since the FTX collapse, many of FTX’s top executives, like Wang, went under the radar. As revealed by Bloomberg, Wang had spent most of her time in China. With the new role at Sino Global Capitals, it is clear the ex-FTX official is not yet done with the crypto space.
Moreover, Amy Wu, who previously led FTX Ventures, has joined Menlo Ventures, one of the oldest venture firms in Silicon Valley. Similarly, former President of FTX US, Brett Harrison, founded a start-up that plans to provide a GPT-4-powered trading algorithm code generator.
Meanwhile, Sam Bankman-Fried has remained under house arrest while awaiting trial for his role in the FTX and Alameda Research crash. Prosecutors alleged that Bankman-Fried had misused customers’ funds in risky investments and funneled funds to politicians. However, the founder of FTX pleaded not guilty to all the charges.
The crash of FTX, which was once the third biggest exchange in the world, sent shockwaves through the crypto ecosystem. Since then, many officials and personalities implicated in the case have submitted themselves for investigation. While prosecutors in January sought a subpoena to investigate Zhe Wang, she is yet to be accused of any wrongdoing.
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