Paradigm co-founder Matthew Huang testified in the FTX trial, revealing concerns about the lack of formal structure at the now-bankrupt crypto exchange. Huang claimed FTX's CEO Sam Bankman-Fried was resistant to having investors on the board of directors. Despite concerns about FTX's potential entanglement with sister hedge fund Alameda Research, investors were attracted by FTX's rapid market share expansion. Huang admitted to not conducting enough due diligence and relying heavily on information provided by Bankman-Fried. He also expressed concerns about Alameda receiving preferential treatment and the alleged commingling of funds between FTX and Alameda.