FTX cofounder Gary Wang offered new details about how the executives misled customers—including fabricating how much money was in its insurance fund.
What Sam Bankman-Fried knew, how early he knew it, and the steps big and small he took to make it happen: His former friend, cofounder of Alameda Research, and FTX’s former chief technology officer Gary Wang laid it all out in damaging testimony on Friday at Bankman-Fried’s federal fraud trial. Wang offered new information on the extent of the actions at FTX and of Bankman-Fried.
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