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FTX co-founder Gary Wang testified under oath to committing multi-billion-dollar fraud along with Sam Bankman-Fried on the third day of SBF’s criminal trial in New York. 

Co-founder and former chief technology officer of the now collapsed crypto exchange FTX, Gary Wang, testified on Wednesday to committing crimes during his time at the exchange with SBF. Wang further admitted to committing such crimes with the help of former Alameda Research CEO Caroline Ellison and form FTX engineering director Nishad Singh. 

SBF Committed Fraud with Help of Ellison, Wang, and Singh

According to reports by the Inner City Press, Gary Wang gave evidence on October 5, the third day of SBF’s criminal trial hearing in New York. Ellison, Wang, and Singh pleaded guilty shortly after SBF’s arrest. 

Gary Wang: Chief Technology Officer.
AUSA: Did you commit crimes at FTX?
Gary Wang: Yes. With Nishad Singh, Caroline Ellison and Sam Bankman-Fried.
AUSA: Is that him over there?
[A pause…]
Gary Wang: Yes.

— Inner City Press (@innercitypress) October 5, 2023

Wang responded to questions from Assistant United States Attorney Danielle Sassoon. He reportedly said:

“We allowed Alameda to withdraw unlimited funds.” 

Adding,

“[Sam handled] speaking to the media, lobbying, talking with investors. I just coded […] in the end it was Sam’s decision to make [regarding any disagreements].” 

Wa

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Author: Jana Serfontein

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