FTX Co-Founder: SBF stole customer funds from the beginning
In the ongoing Sam Bankman-Fried trial, FTX ’s co-founder Gary Wang says that SBF stole customer funds from the beginning . In testimony to a New York Jury on Friday, Wang says Bankman-Fried authorized the illegal use of FTX customer s’ funds and assets to plug financial gaps at an affiliated hedge fund from the exchange’s earliest days. On Wang’s second day of Testimony, Wang adds that the losses at the hedge fund, Alameda Research, became so large that there was no way to hide them. Referring to SBF’s infamous tweet days before the exchange’s collapse, Wang says “FTX was not fine.” Source: The Hindu The prosecution is alleging that SBF stole millions from customers during and after the collapse of FTX. It’s alleged that he used the funds to pay for his own lavish lifestyle, as well as fund political campaigns. Gary Wang was FTX’s chief technology officer. He’s one of multiple FTX executives who have agreed to testify against Ba...