FTX co-founder: Bankman-Fried orchestrated fraud by illegally funneling customer funds to Alameda

Sam Bankman-Fried authorized illegal use of FTX customer funds for Alameda hedge fund from the start, says co-founder Gary Wang.

Losses at Alameda became too big to hide; FTX was not fine despite Bankman-Fried's tweet.

Wang testifying as part of plea deal; calls Bankman-Fried mastermind of one of biggest frauds in history.

Alameda had unlimited withdrawals, $65B credit line at FTX since the beginning.

As losses mounted, Bankman-Fried moved them to Alameda books since FTX finances more visible.