FTX Founder SBF on Trial, Former Colleagues to Provide Key Testimony

This week, FTX founder Sam Bankman-Fried will face trial, as the once global crypto trading giant is accused of misappropriating billions of dollars in customer funds. During the six-week trial, prosecutors will reveal FTX's illegal activities through various pieces of evidence. The most striking evidence may come from SBF's former colleagues and friends.

Several individuals who were closely associated with SBF have reached plea agreements with the Justice Department and will testify against the former crypto mogul. This includes his ex-girlfriend Caroline Ellison and childhood friend Gary Wang, both of whom were deeply involved in the operations of FTX and its affiliated company Alameda Research. Additionally, there may be two unnamed individuals testifying after receiving immunity. Prosecutors also plan to summon several former FTX clients and investors.

Main Witness

Caroline Ellison

As the former head of Alameda Research, Ellison will be one of the most watched witnesses. She may disclose details about the relationship between FTX and Alameda, as well as the quantity of FTT tokens held by FTX. Ellison had a romantic relationship with SBF and is considered one of the few people who truly understand the internal workings of FTX.

Ellison pleaded guilty in December 2022, admitting to intentionally misleading lenders and obtaining an unlimited line of credit from FTX for Alameda Research. Her knowledge of the two companies' alleged sharing of client funds could become a focal point of the trial.

Nishad Singh

Singh is the former engineering chief of FTX and one of the three people who held the keys to FTX's matching engine. He is aware of the situation where FTX lent customer funds to Alameda and pleaded guilty to multiple criminal charges in February this year.

Gary Wang

Wang is a co-founder of Alameda Research and FTX, and he served as the Chief Technology Officer of both companies. He is very close friends with SBF, having been friends since high school. Wang pleaded guilty in December 2022.

Other Important Witnesses

• Andria van der Merwe: Financial Market Regulatory Investigation Expert
• Peter Easton: Professor at the University of Notre Dame, will analyze the financial situation of Alameda and FTX.
• Thomas Bishop: Business Consultant, specializing in forensic investigation and accounting
• Brian Kim: Data Analysis and Forensics Expert
• Joseph Pimbley: Financial Risk Management Expert
• Andrew Di Wu: Professor of Finance and Technology at the University of Michigan

Key Figures Not Confirmed to Appear in Court

• Sam Trabucco: former co-CEO of Alameda Research
• Daniel Friedberg: Former Chief Compliance Officer of FTX
• Ryan Salame: Former Co-CEO of FTX Digital Markets, has pleaded guilty.

This highly anticipated trial will reveal many details of FTX's internal operations, and the testimonies of SBF's former colleagues and friends will be crucial. The outcome of the trial could have far-reaching effects on the entire cryptocurrency industry.