Ex-FTX Exec: Bankman-Fried Allowed Billions in Customer Funds to Be Used by Sister Firm

Alameda allegedly used billions in FTX customer funds for trading as early as 2019 according to Gary Wang

Wang says Alameda withdrew $8 billion in assets through a "allow negative" feature added by co-founder Nishad Singh

Feature allowed Alameda to use more money than it had in its FTX account

Bankman-Fried authorized a $65 billion line of credit for Alameda on FTX

Wang cooperating with authorities, testifying against Bankman-Fried who faces decades in prison if convicted