FTX founder about to stand trial, key witnesses may reveal internal operations

This week, FTX founder Sam Bankman-Fried will face trial. The former cryptocurrency exchange giant is accused of misappropriating billions of dollars in customer funds, triggering a storm in the crypto industry.

During the six-week trial, the prosecution will attempt to reconstruct the full picture of the FTX collapse through various pieces of evidence and testimonies. Among the most eye-catching may be the accusations from Bankman-Fried's former colleagues and friends.

Caroline Ellison, as the former CEO of Alameda Research, is expected to be one of the key witnesses. She was deeply involved in the daily operations of FTX and Alameda and had a romantic relationship with Bankman-Fried, making her one of the few who truly understands the inside story. Ellison has admitted to the relevant fraud charges and signed a plea agreement. Her knowledge of the alleged misappropriation of customer funds by the two companies could become a focal point of the trial.

Nishad Singh, the former engineering director of FTX, has also pleaded guilty. He was one of the three people who had the authority to transfer FTX's funds and was aware of the company's practice of lending customer funds to Alameda.

Gary Wang, as a co-founder of FTX and Alameda, has also pleaded guilty. He is referred to as a key player at FTX and had allowed Alameda to maintain almost unlimited credit lines at FTX.

In addition, financial market regulatory investigation expert Andria van der Merwe and University of Notre Dame professor Peter Easton will also testify, providing expert opinions on FTX's alleged illegal activities and its financial condition.

Defense witnesses include business consultant Thomas Bishop and data analysis expert Brian Kim, who may testify regarding FTX's financial data and internal communications.

Some key figures closely associated with Bankman-Fried, such as former Alameda co-CEO Sam Trabucco and former FTX Chief Compliance Officer Dan Friedberg, have not yet been listed as witnesses. However, they may possess important information and could still be called to testify in the future.

This trial will unveil many behind-the-scenes details of the FTX collapse and have a profound impact on the cryptocurrency industry. All parties will closely monitor the progress of the trial and the potential regulatory changes it may bring.