Gary Wang's Role in Allowing Alameda to Withdraw Unlimited Funds Revealed at SBF Trial

Gary Wang, former co-founder and chief technology officer of cryptocurrency exchange FTX, testified in the criminal trial of former CEO Sam "SBF" Bankman-Fried. Wang admitted to committing crimes with Bankman-Fried, former Alameda Research CEO Caroline Ellison, and former FTX engineering director Nishad Singh, including allowing Alameda to withdraw unlimited funds. Witnesses also spoke of connections between Alameda and FTX, with testimony suggesting that Bankman-Fried directed employees to use FTX user funds to cover losses at Alameda. Bankman-Fried will likely remain in jail throughout the trial, and it is unclear if he plans to speak in his own defense.