In the courtroom, FTX co-founder Gary Wang was instructed by the judge to speak more slowly while testifying against former CEO Sam Bankman-Fried (SBF). This instruction came after Wang had made some allegations against SBF. The dialogue of the court case, transcribed by Inner City Press, revealed that Wang took the stand to testify against SBF, who is facing fraud charges related to the collapse of the crypto exchange FTX. Wang’s responses to questions about the charges and the nature of the activity were delivered with rapid speech. He admitted that there were no restrictions on the amount of funds available to FTX’s investment company, Alameda Research. Wang also revealed that SBF deliberately named it Alameda Research to give it professional connotations and help with obtaining a bank account. Furthermore, Wang clarified that the privileges Alameda Research had at FTX were due to them being “in the code”.
Hashtags: #FTX #GaryWang #SBF #cryptocurrency #fraudcharges #AlamedaResearch #courtcase #cryptoexchange
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