Accounting Professor Details Misuse of Billions in FTX Customer Funds

Accounting professor says FTX "definitely" mishandled customer funds, tracing billions in misused deposits.

Professor shows FTX user deposits fell below bank balances in March 2021, meaning backing was lost.

Testimony details FTX customer funds improperly funneled into investments, charities, and Bankman-Fried's personal account.

Former FTX lobbyist highlights contrast between CEO's public comments on protection vs secret misuse of funds.

Witness emphasizes Bankman-Fried's testimony claiming crypto as commodities, relating to fraud charges against him.