Nishad Singh, former FTX Director of Engineering will be sentenced this year, court documents reveal. Singh alongside Gary Wang and other FTX allies pleaded guilty and testified against their former boss. Amid the lengthy period between the implosion of FTX and the eventual trial, many revelations were made about the handling of customer assets.
The crypto exchange crashed in November 2022 driving down the prices of crypto assets amid mounting user losses. Wider sentiments moved out of crypto assets deepening the bear market down in 2023.
Who Is Nishad Singh?
Nishad Singh is an Indian American engineer who worked for bankrupt crypto exchange, FTX, and faces legal challenges. Born in 1996, Singh became passionate about sports in his early years although his asthmatic condition posed a challenge. He focused on ultramarathons which require him to cover longer distances and became the second person to complete it in under 30 hours.
Nishad Singh attended Crystal Springs Upland School before heading to college to study Engineering. He graduated with a Bachelor of Science in Electrical Engineering from the University of California. To his career, Singh worked at Facebook before joining Alameda Research in 2017.
He was a friend to Gabriel, Bankman-Fried’s younger brother and according to reports, Singh lived with SBF in the Bahamas where the exchange was based.
Testimony Against SBF
Nishad Singh is popular for his trial and testimony against Bankman-Fried. Alongside Gary Wang and Caroline Ellison, Singh testified against SBF with the former’s fate also set to be decided this year. While Singh’s sentencing is set for Oct 30, Gary Wang’s date is expected on Nov 20.
During the trial of Bankman-Fried, Nishad Singh revealed that he discovered an $8 billion hole in the company’s finances. “So the last $8 billion of spend had necessarily come from customers. That spend included things like real estate investments, VC investments, campaign donations, and speculative events in trading.”
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