At the New York trial of disgraced FTX CEO Sam Bankman-Fried, co-founder Gary Wang testifies the crypto exchange used a random number generator to create fake daily deposit values for an ‘insurance fund’ to reassure investors. Calculated by taking an arbitrary number around 7,500 multiplied by the platform’s daily volume and divided by a billion, the greatly embellished fund “was intended to protect FTX and its customers from losses due to unprofitable liquidations,” says Web3 critic Molly White.