"FTX Co-founder's Trial Reveals Sam Bankman-Fried's Alleged Financial Crimes and Deception"

FTX co-founder Gary Wang testified in court that he and Sam Bankman-Fried engaged in financial crimes and lied about it, diverting billions from FTX customers and investors and "lying to the public" before the collapse of the cryptocurrency trading platform. Wang stated that Bankman-Fried directed him to grant special privileges to Alameda, altering the code to allow for a credit line of up to $65 billion. Wang confirmed that these funds belonged to FTX customers. Bankman-Fried, who faces multiple charges, including fraud and money laundering, has maintained his innocence.