Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

0:00
0:00

FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights

US authorities are now scrutinizing former FTX engineer Nishad Singh, according to a Bloomberg report published Thursday.

  • US authorities are upping the pressure on Sam Bankman-Fried's inner circle, according to Bloomberg.

  • They're currently scrutinizing former FTX engineer Nishad Singh, people familiar with the matter said.

  • Singh was childhood friends with Bankman-Fried's younger brother Gabe – and was nicknamed FTX's "King of kindness".

The US authorities investigating the FTX fraud case are now focusing their efforts on the bankrupt crypto exchange's former top engineer Nishad Singh, according to a report from Bloomberg published Thursday.

Prosecutors are scrutinizing Singh's role in what they have called a years-long "fraud of epic proportions" and could charge him by the end of the month, people familiar with the matter said.

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have also reportedly launched investigations into Singh, a former director of engineering for FTX who held a 7.8% stake in the bankrupt crypto exchange.

Singh first met Sam Bankman-Fried through the now-disgraced FTX founder's younger brother Gabe, who he was high school friends with.

He was an engineer for Facebook before the older Bankman-Fried hired him to work for FTX and Alameda, according to a LinkedIn page that has subsequently been taken down.

Bankman-Fried said in November that Singh felt "ashamed and guilty" after FTX's bankruptcy filings revealed it had lost more than $8 billion of customers' money, according to private Twitter messages published by Vox.

"[Former FTX chief technology officer] Gary [Wang] is scared, Nishad is ashamed and guilty," Bankman-Fried said.

"It hit [Singh] hard. I mean it hit all of us hard. But it hit him HARD," he added.

In November, the Wall Street Journal identified Singh, Bankman-Fried, Caroline Ellison, and Wang as the four FTX executives who knew that the exchange was using customer funds to prop up its sister trading firm Alameda Research.

Bankman-Fried entered a plea of not guilty to eight criminal counts including wire fraud and conspiracy to commit money laundering Tuesday, while Ellison and Wang both pleaded guilty to similar charges on December 22.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×