FTX co-founder accused of giving Alameda special trading privileges, misusing customer funds

Gary Wang claimed SBF authorized special trading privileges for Alameda's account on FTX, allowing negative balances.

Wang said SBF ordered the "allow negative" feature be implemented, letting Alameda exceed FTX's 2020 revenue.

According to Wang, SBF claimed the privileges were to facilitate trading FTX's native token FTT when Alameda's balance was negative.

Wang testified Alameda could withdraw funds directly from FTX with SBF's permission.

The prosecution alleges SBF misused FTX customer funds at Alameda without consent, charges he denies.