FTX co-founder accused of giving Alameda special trading privileges, misusing customer funds
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Gary Wang claimed SBF authorized special trading privileges for Alameda's account on FTX, allowing negative balances.
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Wang said SBF ordered the "allow negative" feature be implemented, letting Alameda exceed FTX's 2020 revenue.
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According to Wang, SBF claimed the privileges were to facilitate trading FTX's native token FTT when Alameda's balance was negative.
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Wang testified Alameda could withdraw funds directly from FTX with SBF's permission.
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The prosecution alleges SBF misused FTX customer funds at Alameda without consent, charges he denies.
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