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The Latest Breaking News from Gary Wang

Criminal mastermind or hapless dude? A look into Sam Bankman-Fried's trial so far

The trial of the former FTX CEO concluded its second week, featuring explosive testimony from Caroline Ellison, a former girlfriend of Bankman-Fried.

WEKU

Caroline Ellison: ‘Sam was the one’ who caused FTX collapse

In June 2022, amid the broader crypto meltdown, Caroline Ellison and FTX co-founder Sam Bankman-Fried were looking at a massive hole in Alameda Research’s balance sheet.

The Times of India

FTX was a boys’ club. When Caroline Ellison asked Sam Bankman-Fried for equity in the hedge fund she ran, he said ‘it was too complicated’

The former CEO of Alameda Research had only a half-a-percentage-point stake in FTX and no equity in the crypto hedge fund she once led, she testified on Tuesday afternoon.

Fortune

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FTX cofounder Gary Wang says he took out $200 million to $300 million in loans from Alameda Research for investments he couldn’t ‘recall’

Interest payments for the loans became so cumbersome that Wang took out a loan just to pay for them.

Fortune

Sam Bankman-Fried trial: ex-girlfriend says he directed her to commit crimes

Caroline Ellison, who dated Bankman-Fried for years, tells court that he gave the orders to commit $10bn in fraud

The Guardian - US

Everything we learned from week 1 of Sam Bankman-Fried’s trial

Cofounder Gary Wang and venture capitalist Matt Huang have already taken the stand.

Fortune

Bankman-Fried’s trial enters week 2: What’s happened so far, and what to expect when his ex takes the stand

Ellison is the former CEO of Alameda Research, Bankman-Fried’s ex-girlfriend, and the prosecution’s star witness.

Fortune

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Sam Bankman-Fried stole customer funds from the beginning of FTX, exchange's co-founder tells jury

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, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of…

The Independent UK

Sam Bankman-Fried wanted to shut down trading firm Alameda weeks before FTX bankruptcy, says co-founder Gary Wang

FTX cofounder and childhood friend Gary Wang took the stand and admitted to the crypto empire’s crimes.

Fortune

Sam Bankman-Fried was not surprised by $8bn FTX shortfall, key witness says

Gary Wang says Bankman-Fried had ‘neutral demeanor’ when told crypto exchange had lost billions days before collapse

The Guardian - US

FTX co-founder testifies against Sam Bankman-Fried, saying they committed crimes and lied to public

FTX's co-founder has begun to tell a New York jury that he and Sam Bankman-Fried committed financial crimes and lied to the public before the cryptocurrency trading platform collapsed last year

The Independent UK

What is FTX founder Sam Bankman-Fried’s trial about?

Bankman-Fried, who had his bail revoked in August, faces multiple charges of money laundering and fraud.

Al Jazeera

Sam Bankman-Fried will have to face FTX victims at his upcoming trial, including a man in Ukraine who lost nearly everything

A court filing from Saturday offers further details on the Department of Justice's case against the disgraced FTX founder.

Fortune

‘Dark’ donations, free love and the fall: the Sam Bankman-Fried trial is here

The FTX founder’s day in court comes on Tuesday. Where did it all go wrong – and what can we expect in the high-profile trial?

The Guardian - US

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Fortune

A timeline of Sam Bankman-Fried, who could go down as one of history’s most notorious fraudsters

Sam Bankman-Fried, 31, is facing fraud and conspiracy charges linked to FTX, which was once valued at $32 billion.

Fortune

Former FTX executive Ryan Salame, who bought a private jet while working for the crypto exchange, to plead guilty

His plea follows similar deals for two other FTX executives, Gary Wang and Caroline Ellison.

Fortune

Caroline Ellison, ex-girlfriend of Sam Bankman-Fried, kept a Google Doc about working for the CEO

“It doesn’t really feel like there’s an end in sight,” Ellison wrote.

The Guardian - UK

FTX sues founder Sam Bankman-Fried and three others for $1bn

Lawsuit by cryptocurrency exchange, which collapsed in November, is attempting to recoup assets sought by creditors

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Fortune

SBF's brother planned to buy an island nation with FTX funds to build apocalypse bunker - lawsuit says

The lawsuit also alleges that Bankman-Fried is using customer funds for his own defense.

Fortune

Tribe Capital just can’t quit FTX: VC burned by SBF is considering an investment in reboot of bankrupt crypto exchange, report says

Tribe Capital has pondered a $250 million fundraising campaign to revive Sam Bankman-Fried’s empire.

Fortune

FTX execs ‘joked internally’ about losing track of millions in assets, misused customer funds, and ‘stifled dissent’ before the exchange’s collapse, new debtors’ report says

SBF and a team of top execs also “stifled dissent,” “commingled and misused” funds, and “lied to third parties,” a new debtors’ report alleges.

The Times of India

FTX failure rooted in ‘hubris,’ ‘greed’: Report

Failed crypto exchange FTX Trading Ltd lacked fundamental financial and accounting controls, stifled dissent within the company and joked internally about their tendency to lose track of millions of dollars in assets, according to a report by the company’s debtors.

Fortune

Another top lieutenant turns on FTX founder Sam Bankman-Fried as Nishad Singh pleads guilty

Singh was an early employee at Alameda and a prodigious Democratic donor.

The Independent UK

Embattled FTX founder Sam Bankman-Fried bucks legal norms and keeps talking in fraud case

Sam Bankman-Fried, the founder and former CEO of FTX, has been unusually talkative following the November collapse of the cryptocurrency exchange and his subsequent indictment on fraud and other charges

The Independent UK

FTX founder keeps talking, ignoring typical legal strategy

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