Bankman-Fried’s Inner Circle Continues to Crumble With Singh Guilty Plea

Former FTX engineering chief Nishad Singh cooperating with US
Singh is third former FTX leader to flip against co-founder

Former FTX engineering chief Nishad Singh, front center, departs from federal court in New York on Feb. 28.
Photographer: Bob Van Voris/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Ava Benny-Morrison, Chris Dolmetsch, and Bob Van Voris

February 28, 2023 at 4:55 PM UTC

Updated on

February 28, 2023 at 7:25 PM UTC

This article is for subscribers only.

Former FTX engineering chief Nishad Singh pleaded guilty to fraud as part of a cooperation deal with prosecutors, the third member of the collapsed cryptocurrency exchange’s inner circle to flip against co-founder Sam Bankman-Fried.

Singh said at a hearing on Tuesday that he was “unbelievably sorry for my role in this and the harm it caused.” He admitted he knew for months that Alameda Research, the exchange’s trading arm, was borrowing billions of dollars in funds from FTX without customers’ knowledge.