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FTX co-founder testifies against Sam Bankman-Fried in multi-billion dollar crypto trading fraud

NPR
Published October 10, 2023 at 7:40 AM MDT
Sam Bankman-Fried authorized the illegal use of FTX customers' funds and assets to plug financial gaps at an affiliated hedge fund from the exchange's earliest days, FTX's co-founder Gary Wang told a New York jury on Friday, Oct. 6, 2023, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in U.S. history. (Bebeto Matthews/AP)
Sam Bankman-Fried authorized the illegal use of FTX customers' funds and assets to plug financial gaps at an affiliated hedge fund from the exchange's earliest days, FTX's co-founder Gary Wang told a New York jury on Friday, Oct. 6, 2023, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in U.S. history. (Bebeto Matthews/AP)

The multi-billion dollar fraud trial against Sam Bankman-Fried resumes Tuesday after beginning last week. Prosecutors have called a major witness: Gary Wang, a co-founder of FTX. Wang will testify against his former partner Bankman-Fried.

Here & Now‘s Scott Tong talks with Zeke Faux, Bloomberg investigative reporter and author of “Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall.”

This article was originally published on WBUR.org.

Copyright 2023 NPR. To see more, visit https://www.npr.org.