FTX’s Nishad Singh was sentenced to no jail time, and three years of supervised release. He had pleaded guilty to fraud and money laundering charges, as well as a campaign finance charge, and cooperated with the prosecution.

That just leaves defendant Gary Wang left to be sentenced. I imagine he’s feeling some relief after hearing of Singh’s non-custodial sentence.

This also really underscores the sentencing benefit from cooperation. Ryan Salame, who pleaded guilty but did not cooperate, received 7 1/2 years for a campaign finance charge and a money transmitting charge.