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NEW YORK, Oct 5 (Reuters) - Sam Bankman-Fried's college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder's fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX.The special privileges granted to the hedge fund, Alameda Research, included a $65 billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow, he said. Alameda had withdrawn $8 billion from FTX by the time of the exchange's bankruptcy in November 2022,...

Bitcoins are seen in this illustration picture taken September 27, 2017. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 25 (Reuters) - Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed U.S. Treasury Department rule published on Friday.The rule is part of a broader push by Congress and regulatory authorities to crack down on crypto users who may be failing to pay their taxes.A proposed new tax reporting form called Form...