Saudi Press

Saudi Arabia and the world
Wednesday, Oct 08, 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
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
×