FTX Lianchuang Gary Wang’s testimony: SBF once allowed Alameda to withdraw funds unlimitedly

Odaily Planet Daily News FTX co-founder Gary Wang testified in court on Thursday that SBF had allowed Alameda to withdraw funds unlimitedly. Alameda has a large credit limit for faster order execution on the FTX platform and unlimited withdrawals of funds. Gary Wang mentioned that when FTX collapsed, Alameda had withdrawn $8 billion from the platform and $65 billion from its credit line. Gary Wang also stated that his personal annual salary is US$200,000 and he holds 17% of FTX’s shares, while SBF owns approximately 65% ​​of the company’s shares. At the same time, SBF also holds 90% of Alameda Research, while he only holds 10%. The SBF is responsible for public-facing duties such as lobbying and talking to the media, while his responsibilities are limited to the code. (Decrypt)