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-FTX founder Sam Bankman-Fried goes on trial this week after the crypto exchange's collapse and alleged theft of billions.-Key witnesses include former colleagues and friends, notably Caroline Ellison and Gary Wang, who had deep ties to FTX and Alameda Research. Ellison, once romantically involved with Bankman-Fried, has insights into FTX's internal workings and admitted to misleading actions.-Other witnesses like Nishad Singh and Wang held significant roles at FTX and Alameda, and have pleaded guilty to related charges.It’s been almost a year since the global crypto exchange FTX shattered and its founder and former CEO Sam Bankman-Fried lost all credibility. This week, he will try to convince a jury of his peers that he deserves to be a free man again – but first, we’re going to hear from some of his closest friends.The six-week trial will see prosecutors pore through testimonies, internal documents, emails and mountains of evidence certain to shed new light on the crypto exchange’s alleged theft of billions of dollars in customer funds. The most striking evidence could come from the prosecutors’ witnesses – those who Bankman-Fried once counted as his friends and allies.Several of Bankman-Fried’s former colleagues and friends will testify against the one-time crypto mogul following plea deals they struck with the U.S. Department of Justice, including his former romantic partner Caroline Ellison and childhood friend Gary Wang, who were both deeply involved in the daily workings of both FTX and its quant-driven trading shop, Alameda Research. Another two individuals, who prosecutors have yet to publicly name, may testify if granted immunity, suggesting they may also be tied to the exchange. The DOJ also announced over the weekend that prosecutors intend to call former FTX customers from around the world and investors as witnesses during the trial.
childhood friend Gary Wang,
If my parents had had that surname when I was born, I would've gotten it changed. Sorry, Dad, but I ain't going through life with a name like that.
Images of FTX founder and former CEO Sam Bankman-Fried’s $35 million penthouse in the Bahamas submitted as exhibits for his criminal fraud trial show a lavish lifestyle on the water with a private pool, bar and wide-open living room with a full-size grand piano.Bankman-Fried’s trial entered its third day Thursday, as the crypto-empire’s former leader faces several charges in connection to the collapse of FTX — once the second-largest crypto exchange in the world — after it was hit with a flood of withdrawals following reports the exchange merged assets with Alameda.Customers lost billions as a result of the collapse, and federal prosecutors accuse Bankman-Fried of misleading lenders and investors, as well as stealing billions of dollars in customer funds to buy real estate, make political contributions and make up for losses at Alameda.One piece of real estate owned by Bankman-Fried was a $35 million penthouse in the Bahamas, in what appears to be a marina and with a view of the ocean.The top-floor penthouse included an outdoor pool with wicker lounge seats that could hold multiple people each, a hot tub that overflows into the pool and archways peeking out across the ocean.
