Former FTX exec’s domestic partner indicted on campaign finance charges.
VergeAUG 12 2024
Nishad Singh, a former executive at the now-defunct cryptocurrency exchange FTX, avoided additional jail time on Wednesday after a federal judge credited his "remarkable" cooperation with prosecutors in the multi-billion dollar fraud case.Nishad Singh, a former executive at the now-defunct cryptocurrency exchange FTX, avoided jail time on Wednesday after a federal judge credited his "remarkable" cooperation with prosecutors in the multi-billion dollar fraud case.
Singh, a childhood friend of Sam Bankman-Fried who'd go on to share a $35m Bahamas penthouse with the FTX founder, ultimately became a prosecution witness against the latter after accepting a plea deal in which he pleaded guilty to six felony counts of fraud and conspiracy. In part due to Singh's testimony, Bankman-Fried was sentenced to 25 years' imprisonment earlier in the year.Singh, a close friend of Sam Bankman-Fried, ultimately became a prosecution witness against the FTX founder after accepting a plea deal in which he pleaded guilty to six felony counts of fraud and conspiracy. In part due to Singh's testimony, Bankman-Fried was sentenced to 25 years.
Prior to Singh's sentencing, defense attorney Andrew Goldstein called for no jail time, stating that his client only knew of the wrongdoing two months before the collapse of FTX. Assistant US Attorney Nicolas Roos also called for leniency, stating that without Singh's testimony, certain crimes — including his own — would never have been revealed.Prior to Singh's sentencing, the defense called for no jail time, stating that Singh only knew of the wrongdoing two months before the collapse of FTX. Assistant US Attorney Nicolas Roos also called for leniency, saying that without Singh's testimony, certain crimes — including his own — wouldn't have been revealed.
Despite of his involvement in one of the biggest frauds perpetrated in American history, Singh went above and beyond to help prosecutors, helping them uncover crimes they alone would have been unable to reveal. Unlike the other employees of FTX, Singh also became aware of the crimes at a much later stage — an important factor in this case.
There'sThe collapse of FTX also represents a 50%broader chancesystemic thatimplosion Bitcoin'sof percentagecryptocurrency and related assets like NFTs. During the chaos of totalthe cryptopandemic marketeconomy, capitalizationthe willpublic bebecame atmore leasttolerant 42of what is essentially chaotic gambling with internet money.1% inIn 2025the post-pandemic economic conditions that have followed, accordingcrypto tohas thebeen Metaculusexposed predictionas communitylittle more than an ill-advised and dangerous bet.