Wang Testifies SBF Allowed Alameda to Secretly Withdraw Customer Funds from FTX
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Gary Wang testified that SBF asked him to give Alameda the ability to withdraw beyond a zero balance from FTX customer funds.
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Wang said SBF tweeted that Alameda was a liquidity provider like any other, despite its special withdrawal abilities.
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Wang testified he implemented code preventing Alameda from liquidating on FTX per SBF's request.
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Wang said SBF told him Alameda withdrawals were fine if less than FTX revenue, initially $50-100M.
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Wang learned Alameda was taking customer funds in 2019, flagged it to SBF, but didn't pursue it further.