Former FTX COO Constance Wang Joins Sino Global Crypto Fund

Zhe Constance Wang, a former associate of the embattled FTX CEO Sam Bankman-Fried has joined Sino Global Capital, a digital asset fund as its head of gaming. 

Wang has often been described as a “right-hand man” of Bankman-Fried in his funding push during her time at FTX. She joined the exchange in 2019 and switched between multiple executive roles including the Chief Operating Officer and the Chief Executive Officer of FTX Digital Markets, the exchange’s Bahamas affiliate. 

After FTX and Alameda Research filed for bankruptcy in 2022, Wang has spent the greater part of her time in China and has not commented on her new role. 

According to a Bloomberg report, Matthew Graham the CEO of Sino Global has confirmed her appointment with the company. 

Both Wang and Sino Global have a history with FTX as Matthew Graham was noted as an early investor in FTX and a close associate of SBF. 

The link between both businesses was more than Sino Global being an equity investor in FTX. In 2021, it was revealed that the VC firm had launched a $200 million fund alongside FTX as a key investor. 

Both CEOs have worked together in the past with Bankman-Fried describing Matthew as a supporter. 

“From the very beginning, Mr. Matthew and the Sino Global Capital team supported the FTX vision and then worked with us to help make it a reality.”

FTX staff move to new roles

On her part, aside from occupying key executive roles at FTX, Wang was reportedly living in Bankman-Fried’s luxury Bahamas mansion. 

In January, the court filings showed that the bankruptcy team had asked for permission to subpoena Wang and other top executives. To date, Ms. Wang has not been accused or indicted for any crime throughout her time at FTX. 

Aside from FTX, Wang’s work history is top-notch in the sector. She previously worked with Credit Suisse as an analyst for two years and as a business developer with Huobi Global.

A couple of former FTX associates have also moved to new firms of floated start-ups in recent weeks. Amy Wu worked at Venture Firm Lightspeed before moving to FTX. 

She has joined Menlo Ventures as a New York-based partner to grow the firm’s consumer and gaming practice. Menlo Ventures has a reputation as one of Silicon Valley’s oldest firms. 

Brett Harrison who was the President of the US affiliate of FTX before his resignation in Sept 2022 floated a startup Architect to provide a “GPT-4-powered trading algorithm code generator.”