Gary Wang Testifies in SBF Trial: Alameda Research Withdraws Billions from FTX, Founder Sam Bankman-Fried Named Co-Conspirator

Gary Wang, the former Chief Technology Officer (CTO) of FTX, testified in the trial of Sam Bankman-Fried (SBF) for scam. Wang accused SBF, the founder of the cryptocurrency exchange, of being involved in a conspiracy to defraud investors. He revealed that Alameda Research, a company affiliated with FTX, withdrew a significant amount of value from the exchange, resulting in $20 billion in owed fees. Wang also stated that Alameda had the ability to enter positions on FTX at the expense of the company, leading to significant losses. He further disclosed that Alameda used its credit line to withdraw customers’ cryptocurrencies from the exchange. Wang’s testimony shed light on the fraudulent activities taking place within FTX and Alameda. The trial is ongoing, and prosecutors plan to introduce audio evidence to support their case.

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Gary Wang Accuses SBF of Scam in FTX Trial

Alameda Research Withdraws Value from FTX

FTX Faces Huge Fees Owed

Judge Rebukes Defense Lawyers in SBF Trial

Gary Wang Names SBF as Co-Conspirator

Paradigm’s Venture Capital Flagged Down

Alameda Clouds Client Assets with Unusual Token Error

Wire Fraud, Securities Fraud, and Commodity Fraud in FTX

SBF Denies Criminal Violations

Former FTX Co-CEO Sam Trabucco Remains Separated from Criminal Proceedings

Alameda Opens Trades with Negative Balances

Wang Testifies on Alameda’s Secret Trading on FTX

Alameda’s Massive Credit Line Used to Withdraw Cryptocurrencies

FTX Founder Considers Closing Hedge Fund

Alameda Compared to Modolo Hedge Fund

Defense Begins Cross-Examination

Prosecutors Address Defense Delay Tactics

First Week of SBF Trial Features Witness Testimonies