Gary Wang, FTX co-founder, is testifying at the trial determining the fate of his former friend and co-founder Sam Bankman-Fried, who is facing fraud and conspiracy charges.
He said on Thursday that Bankman-Fried knew of the existence of a back door that funnelled FTX client money to Alameda, the hedge fund founded by Bankman-Fried, as did former Alameda CEO Caroline Ellison and FTX head of engineering Nishad Singh.
The book is based on Bankman-Fried's account of events before the collapse, Lewis said in the chronicle of Bankman-Fried.
The coder's most notable accomplishments are the invention of a liquidation engine that would enable crypto exchanges to offer futures products without the risk of being left on the hook for losses, a feature that was later adopted by exchanges such as Binance and Kraken.
He also created a 'cross-margin' feature that allowed customers to use a mix of cryptocurrencies for collateral, Bloomberg said.
''T speak,'' Bankman-Fried said, according to Lewis.
After graduation, Wang flubbed an interview at Jane Street 'by not speaking,' Lewis wrote.
After a brief internship with Google Flights, Wang was hired by Bankman-Fried to help him launch Alameda Research.
The three-person team - composed of Bankman-Fried, Wang, and Alameda co-founder Tara Mac Auley - set up their offices in a three-bedroom apartment in Berkeley.
By April 2022, Forbes reported that Wang was worth $5.9 billion. As a result of his 16% share in FTX, his 10% share in Alameda, and his involvement in FTX's FTT tokens, Wang's wealth was heavily reliant on his investments.
Wang's lawyers declined to comment on the request.
Tom Carreras, a market analyst for DL News, is the Editor-in-Chief of Markets.