{"id":54704,"date":"2023-07-19T05:30:25","date_gmt":"2023-07-19T09:30:25","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=54704"},"modified":"2023-07-19T05:30:28","modified_gmt":"2023-07-19T09:30:28","slug":"ftxs-ex-fundraiser-moves-to-crypto-fund-sino-global","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ftxs-ex-fundraiser-moves-to-crypto-fund-sino-global\/","title":{"rendered":"FTX\u2019s Ex-Fundraiser Moves to Crypto Fund Sino Global"},"content":{"rendered":"\n

Constance Wang, who helped FTX<\/a> raise millions of dollars from investors, has left the troubled crypto exchange to join Sino Global Capital, a prominent crypto fund with close ties to FTX\u2019s founder Sam Bankman-Fried.<\/p>\n\n\n\n

\"FTX\u2019s<\/figure>\n\n\n\n

Wang joined FTX in 2019 as its head of business development and was described as Bankman-Fried\u2019s \u201cright hand\u201d <\/em>in his fundraising drive, according to a <\/p>\n\n\n\n

She reportedly lived in Bankman-Fried\u2019s luxury penthouse in the Bahamas, where the occupants were allegedly engaged in romantic relationships.<\/p>\n\n\n\n

Wang was instrumental in securing investments from prominent backers such as Binance, Sequoia Capital, Paradigm, and Coinbase Ventures.<\/strong> She also helped FTX acquire Blockfolio, a popular crypto portfolio tracker app, for $150 million<\/strong> in 2020.<\/p>\n\n\n\n

Wang\u2019s New Role at Sino Global Capital<\/h3>\n\n\n\n

Wang has now joined Sino Global Capital as its head of gaming, according to the fund\u2019s founder and CEO, Matthew Graham. Graham is also a former close confidant of Bankman-Fried, and Sino Global had deep ties to FTX beyond just an equity investment.<\/p>\n\n\n\n

According to a recent report by the Financial Times, which detailed all of Alameda\u2019s investments, the Bankman-Fried-affiliated fund put $60 million<\/strong> into Sino Global\u2019s Liquid Value Fund. <\/p>\n\n\n\n

An unnamed source told CoinDesk \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>that Sino Global also invested in Alameda\u2019s other funds and projects.<\/p>\n\n\n\n

Sino Global is one of Asia\u2019s biggest and most well-known crypto investors, with a portfolio that includes Solana<\/a>, Serum,<\/a> The Graph, Terra<\/a>, and many others. The fund focuses on bridging the gap between China and the global crypto ecosystem.<\/p>\n\n\n\n

A troubled time for FTX<\/h3>\n\n\n\n

Wang\u2019s departure comes at a time when FTX is facing legal troubles and regulatory scrutiny. The exchange filed for bankruptcy protection in the U.S. last month after losing more than $1 billion in customer funds due to flash crashes and liquidations.<\/p>\n\n\n\n

FTX is also under investigation by the U.S. Securities and Exchange Commission (SEC)<\/a> and the Commodity Futures Trading Commission (CFTC) for possible securities and derivatives laws violations. <\/p>\n\n\n\n

The regulators are looking into FTX\u2019s relationship with Alameda, its trading arm, and whether they manipulated the market or engaged in insider trading.<\/p>\n\n\n\n

FTX\u2019s creditors have subpoenaed Wang, but she has not been accused of any wrongdoing or named in a suit with regard to the collapse of FTX or Alameda.<\/p>\n\n\n\n

Sino Global said it \u201cdeeply regrets that misplaced trust\u201d<\/em> put into FTX and reported \u201cmid-seven-figure losses\u201d<\/em> tied to the exchange. The fund added that it is cooperating with the authorities and seeking legal recourse.<\/p>\n","protected":false},"excerpt":{"rendered":"

Constance Wang, who helped FTX raise millions of dollars from investors, has left the troubled crypto exchange to join Sino Global Capital, a prominent crypto fund with close ties to FTX\u2019s founder Sam Bankman-Fried. Wang joined FTX in 2019 as its head of business development and was described as Bankman-Fried\u2019s \u201cright hand\u201d in his fundraising […]<\/p>\n","protected":false},"author":44,"featured_media":54708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[15294,778,15295,12261],"class_list":["post-54704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-constance-wang","tag-ftx","tag-matthew-graham","tag-sino-global"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/Constance-Wang.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/54704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=54704"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/54704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/54708"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=54704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=54704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=54704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}