Gary Wang, co-founder of FTX, testified against former CEO Sam Bankman-Fried in his fraud trial. Wang alleged that he and Bankman-Fried diverted billions of dollars from FTX customer accounts to Alameda Research, granted Alameda special privileges on the FTX platform, and lied to customers and investors about the company's financial health. Bankman-Fried has pleaded not guilty to all charges, but Wang's testimony is a major blow to his defense and could lead to a conviction.