Former engineering director of FTX Nishad Singh has been spared prison time for cooperating against Sam Bankman-Fried...
Nishad Singh, former engineering director of the collapsed crypto exchange FTX, has been spared a prison sentence after providing substantial cooperation in the case against FTX founder Sam Bankman-Fried.
Singh’s assistance is seen as pivotal in building the case against Bankman-Fried, who is accused of orchestrating one of the largest frauds in the crypto industry. It offered a clearer picture of Bankman-Fried’s alleged misuse of customer funds. This development comes as the crypto industry continues to grapple with the fallout from FTX’s collapse.Sam Bankman-Fried, once a prominent figure in the crypto space, founded FTX in 2019, quickly making it one of the most popular and respected crypto exchanges.
Bankman-Fried’s fall from grace sent shockwaves through the crypto industry. It damaged investor confidence and intensifying regulatory scrutiny of digital asset platforms.
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