📉 Gary Wang, co-founder of FTX, testifies that the crypto exchange used hidden Python code to misrepresent the value of its insurance fund. Instead of real funds, the amount shown to the public was calculated by multiplying FTX Token's daily trading volume by a random number of around 7,500. The FTX Insurance Fund was created to protect users from losses during huge liquidation events, however, according to Wang, the amount in the fund was often insufficient to cover these losses.