Gary Wang, co-founder and ex-technology chief of FTX, was sentenced to time served and three years of supervised release on four counts, including wire fraud and securities fraud, becoming the final ex-employee of the collapsed crypto exchange to be punished. Wang was also ordered to forfeit $11 billion, like other co-defendants, after cooperating extensively with the government, which led to the unraveling of the scheme and the development of tools to detect fraud in the stock and cryptocurrency markets.
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Fire Breaks Out at Chevron Refinery Near Los Angeles
El Segundo Fire at Chevron RefineryFire crews are combating a significant blaze at a Chevron refinery in El Segundo, California, confirmed by Governor Gavin Newsom’s office, with no immediate details on the cause or injuries. The refinery, operational since 1911 and located near Los Angeles International Airport, has a refining capacity of 290,000 barrels per day, and local officials are coordinating safety measures for the surrounding community. Want More Context? 🔎
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