- Ellison and Wang were two of Sam Bankman-Fried's top executives and were intricately involved in executing his multibillion-dollar fraud, according to federal charges and regulatory complaints.In an earlier statement, Wang's attorney Ilan Graff, a partner at Fried, Frank, Harris, Shriver & Jacobson, said "Gary has accepted responsibility for his actions and takes seriously his obligations as a cooperating witness."In addition to admitting their complicity in the collapse of FTX, Wang and Ellison signed consent orders with the Commodity Futures Trading Commission, a civil concession that Bankman-Fried has yet to make.FTX's collapse was precipitated when reporting by CoinDesk revealed a highly concentrated position in self-issued FTT coins, which Bankman-Fried's hedge fund Alameda Research used as collateral for billions in crypto loans.Binance, a rival exchange, announced it would sell its stake in FTT, spurring a massive withdrawal in funds."