FTX’s Sam Bankman-Fried committed financial crimes, co-founder Gary Wang said after taking the stand late Thursday. Wang, the fourth witness called by the U.S. Department of Justice in Bankman-Fried’s trial, said he committed wire fraud, securities fraud and commodities fraud alongside Bankman-Fried and Caroline Ellison, who ran Bankman-Fried’s Alameda Research hedge fund, and former FTX executive Nishad Singh. (Wang, Ellison and Singh all pleaded guilty to charges shortly after Bankman-Fried was arrested.) “We gave special privileges to Alameda Research to allow it to withdraw unlimited funds from FTX and lied about it,” Wang said.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.coindesk.com/markets/2023/10/06/first-mover-americas-ether-etfs-struggle-to-gain-traction-in-first-week/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
- About
- about IT
- After
- Alameda
- ALAMEDA RESEARCH
- All
- allow
- alongside
- Americas
- and
- arrested
- Bankman-Fried
- by
- called
- Caroline Ellison
- charges
- Co-founder
- Coindesk
- committed
- Commodities
- Crimes
- Department
- department of justice
- Ellison
- ETFs
- Ether
- executive
- financial
- financial crimes
- First
- Former
- Fourth
- fraud
- from
- FTX
- fund
- funds
- Gain
- Gary
- Gary Wang
- gave
- guilty
- he
- hedge
- hedge fund
- HTTPS
- images
- in
- IT
- Justice
- Late
- Nishad Singh
- of
- plato
- Plato Data Intelligence
- PlatoData
- privileges
- research
- s
- Said
- Sam
- Sam Bankman-Fried
- Securities
- securities fraud
- Shortly
- special
- stand
- Struggle
- taking
- The
- thursday
- to
- traction
- trial
- u.s.
- U.S. Department of Justice
- unlimited
- wang
- was
- week
- WHO
- Wire
- Wire Fraud
- withdraw
- witness
- zephyrnet
More from CoinDesk
FTX Wins Bid to Buy Crypto Lender Voyager Digital’s Assets Out of Bankruptcy
Source Node: 1695718
Time Stamp: Sep 26, 2022
JPMorgan: Ethereum Miners Face an Abrupt Change Following the Merge
Source Node: 1618210
Time Stamp: Aug 11, 2022
Payments Company Affirm Is Shutting Down Its Crypto Business
Source Node: 1946413
Time Stamp: Feb 8, 2023
Crypto Lender Voyager Digital Has Received Several Purchase Offers Higher Than FTX’s: Report
Source Node: 1612685
Time Stamp: Aug 4, 2022
Elon Musk Reveals Talks With Sam Bankman-Fried: ‘My Bullshit Meter Was Redlining’
Source Node: 1754279
Time Stamp: Nov 12, 2022
Bitcoin Miner Rhodium Going Public Through Reverse Merger With SilverSun Technologies
Source Node: 1705589
Time Stamp: Sep 29, 2022
Stellar’s Foundation Supports Delay of Smart-Contracts Upgrade After Bug Found
Source Node: 2458957
Time Stamp: Jan 27, 2024
Singapore Enacts Licencing Requirements for Crypto Custody Services and Others
Source Node: 2532583
Time Stamp: Apr 2, 2024
Incoming FCA Chair Calls Crypto Firms Like FTX ‘Deliberately Evasive’
Source Node: 1772223
Time Stamp: Dec 15, 2022
Luno to Halt Some UK Clients From Investing in Crypto as Regulation Looms
Source Node: 2265315
Time Stamp: Sep 11, 2023
Ether Could Be the Next ‘Institutional Darling,’ Bernstein Says
Source Node: 2486898
Time Stamp: Feb 19, 2024