FTX Ex-VIP Run To Feds To Expose Shady Scheme of SBF

2 mins read News
  • Former FTX executive investigated by the SEC for fraud
  • FTX’s former engineering head met with federal prosecutors
  • The prosecution is eager to learn more about FTX’s political activities

The United States Securities and Exchange Commission is reportedly investigating Singh for a possible role in scamming FTX investors and users, as reported on January 5.

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Nishad Singh, the former engineering head of the FTX exchange, reportedly met with federal prosecutors to reach a plea agreement, following in the footsteps of former FTX and Alameda Research executives Gary Wang and Caroline Ellison.

Bloomberg reported on January 10 that prosecutors presumably wanted to determine if Singh had relevant evidence to contribute to the lawsuit against FTX founder Sam Bankman-Fried.

During the past week of January, Singh attended a proffer session at the office of the United States Attorney for the Southern District of New York. Individuals who are willing to share their knowledge with prosecutors during such discussions may be granted limited immunity.

Additionally, Bankman-Fried is charged with campaign finance offenses, and prosecutors are interested in Singh’s knowledge of FTX’s political contributions.

Singh has made substantial political contributions over the years, and he could assist prosecutors in gaining a greater knowledge of FTX’s political activity.

If his knowledge is deemed valuable, the prosecution may offer him a plea bargain.

In other news, Google, an American multinational technology company, has become the 13th largest wallet after purchasing 2.8 million $SOL at $10.

The move comes as a surprise to many in the cryptocurrency industry, as Google has previously been wary of cryptocurrencies. The previous year, they announced that their Play Store would no longer accept any apps related to mining, trading, and other cryptocurrency activities.

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