Former FTX CTO Gary Wang took the stand on Oct. 6, reportedly admitting Alameda Research had special privileges at FTX ordered by then-CEO Sam Bankman-Fried.
FTX’s former chief technology officer reportedly claimed in court that then-CEO Sam Bankman-Fried authorized Alameda Research’s account to trade more funds than it had available.Gary Wang, FTX’s co-founder and former chief technology officer, again appeared in court on the fourth day of the criminal trial of former CEO Sam “SBF” Bankman-Fried to speak on the connections between the crypto exchange and Alameda Research.to a New York courtroom on Oct.
According to Wang, Bankman-Fried claimed Alameda’s “special privileges” on FTX were centered around the exchange’s FTX Token , which the firm used for trading “when its account balance was below zero.” The former chief technology officer reportedly testified Alameda had been able to withdraw funds directly from FTX.
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