FTX founder suspected of billion-dollar theft case goes to trial

Recently, the founder of the once sensational cryptocurrency exchange FTX is about to face trial. The platform has been accused of illegally misappropriating billions of dollars in customer funds. During the six-week trial, the prosecution will present a large amount of evidence, including internal documents, emails, and more, to reveal the details of the platform's alleged misappropriation of customer funds.

The most striking evidence in this case is likely to come from witnesses summoned by the prosecution, who were close friends and colleagues of the FTX founder. Several key figures have reached plea agreements with the Department of Justice and will testify in court. These key witnesses include the FTX founder's ex-girlfriend Caroline Ellison and childhood friend Gary Wang, both of whom were deeply involved in the day-to-day operations of FTX and its affiliated fund Alameda Research.

Caroline Ellison, as the former head of Alameda Research, is one of the most closely watched witnesses. She will disclose key information such as the relationship between FTX and Alameda, as well as the amount of FTT tokens held by FTX. As one of the few people who truly understand the internal workings of FTX, her testimony could have a significant impact on the direction of the case. Ellison has admitted to deliberately misleading lenders and using FTX to obtain unrestricted credit lines for Alameda. Her knowledge of the alleged sharing of customer funds between the two companies could become a focal point of the trial.

Another key witness is Nishad Singh, who served as the engineering chief of FTX. Singh is a key holder of one of the core components of the FTX trading system and is aware of the situation regarding FTX lending customer funds to Alameda. He has pleaded guilty to multiple criminal charges, including fraud and conspiracy.

Gary Wang, as a co-founder of Alameda Research and FTX, is also a key witness. He served as the Chief Technology Officer of both companies and is regarded as one of the key figures in FTX. Wang allowed Alameda to obtain nearly unlimited credit on FTX and has pleaded guilty to the related charges.

In addition to these insiders, the prosecution also plans to summon other witnesses, including financial regulatory expert Andria van der Merwe and accounting expert Peter Easton. They will provide professional opinions on the financial situation of FTX and Alameda.

The defense also listed several potential witnesses, including business consultant Thomas Bishop and data analysis expert Brian Kim. They may testify regarding FTX's software infrastructure, internal communication records, and other aspects to respond to the prosecution's allegations.

In addition, some executives closely associated with FTX founder, such as Sam Trabucco and Dan Friedberg, have not yet been listed as witnesses, but their roles in the case are still worth noting.

This highly anticipated trial will reveal how a once-dominant giant in the cryptocurrency industry collapsed and will provide important warnings for regulators and investors. As the court proceedings unfold, more insider details are expected to come to light, sparking in-depth reflections in the industry on the management and regulation of cryptocurrency trading platforms.