This podcast episode summarizes the ongoing FTX trial, with a focus on the testimony of Gary Wang, former CTO of FTX. Wang admitted to committing financial crimes with Bankman-Fried and provided details about the code that gave Alameda special privileges on FTX. Wang's testimony revealed that Alameda could borrow money from FTX with no limits, raising questions about the relationship between the two companies. Despite having access to a $65 billion credit line, Alameda borrowed a massive $11 billion from FTX, highlighting the extent of their dealings. Wang also discussed Bankman-Fried's misleading tweet, which reassured customers about FTX's financial stability, which Wang alleged was a lie.
