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Banking & Finance

The latest coverage of the banking and financial sectors.

FTX founder Sam Bankman-Fried leaves Manhattan federal court, June 15, 2023, in New York. Bankman-Fried authorized the illegal use of FTX customers' funds and assets to plug financial gaps at an affiliated hedge fund from the exchange's earliest days, FTX's co-founder Gary Wang told a New York jury on Friday, Oct. 6, 2023, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in U.S. history. (AP Photo/Bebeto Matthews, File)

Sam Bankman-Fried stole customer funds from the beginning of FTX, exchange’s co-founder tells jury

- Associated Press

Sam Bankman-Fried authorized the illegal use of FTX customers’ funds and assets to plug financial gaps at an affiliated hedge fund from the exchange’s earliest days, FTX’s co-founder Gary Wang told a New York jury on Friday, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in U.S. history.