CoinDesk Podcast Network
SBF TRIAL PODCAST 10/17: Why FTX Executive Nishad Singh Felt ‘Suicidal’ in Crypto Exchange’s Final Days
Oct 17, 2023
Former FTX executive, Nishad Singh, testifies about the extent of Alameda's use of FTX user deposits, emphasizing Singh's feeling of betrayal. Singh's testimony provides strong evidence against Sam Bankman-Fried. The podcast explores Singh's mental health struggles and reveals political fund funneling in the crypto exchange trial.
08:09
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Quick takeaways
- Former FTX executive, Nishad Singh, felt betrayed and suicidal after discovering the extent of Alameda's use of FTX user deposits.
- Singh's testimony provided strong evidence of Sam Bankman-Fried's role as the decision-maker behind FTX's alleged crimes and involvement in money funneling operations.
Deep dives
Singh's realization of FTX's financial problems
Nishad Singh, former head of engineering at FTX, testified in court that during a meeting with Sam Bankman-Freeze, he learned that Alameda, FTX's sister trading firm, had spent billions of dollars of FTX user deposits, creating a significant deficit in both companies' balance sheets. Singh felt betrayed by this revelation, as he had dedicated years of work to building FTX. His testimony provided strong evidence that Bankman-Freeze was the key decision-maker at FTX and the main culprit behind the alleged crimes.
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