In a pivotal turn of events, Sam Bankman-Fried (SBF), the founder of FTX, took the stand in his ongoing fraud trial, vehemently denying allegations that he defrauded customers of billions. The trial, which has captured significant media attention, centers around accusations that SBF funneled billions from FTX to cover a deficit at Alameda Research, a hedge fund linked to FTX.

Changpeng Zhao, commonly referred to as CZ, is the brains behind Binance, the world's premier cryptocurrency exchange. As of October 23, 2023, Forbes estimated his wealth at $10.2 billion. However, recent financial shifts, as reported by Bloomberg Billionaires Index, have seen his fortune decrease by $11.9 billion due to decreased trading volumes on Binance.