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FTX co-founder testifies against Sam Bankman-Fried, saying they committed financial crimes

Gary Wang, FTX co-founder, began his testimony against Sam Bankman-Fried on Thursday, alleging that he and his former college roommate and boss committed financial crimes and lied to the public before the cryptocurrency trading platform collapsed last year. The witness admitted to creating a software code for FTX which gave “special privileges” to Alameda Research, a cryptocurrency hedge fund that Bankman-Fried also co-founded. According to Wang, the defendant directed the illegal move, that allowed Alameda to withdraw funds up to $65 billion (€61.8 billion) from FTX. Damian Williams, the US a