Week three of Sam Bankman-Fried‘s trial is behind us, and this time, FTX co-founder and former Director of Engineering Nishad Singh gave a pivotal testimony. Unlike the other key witnesses who took the stand, Singh knows SBF on a personal level since he’s been friends with his younger brother since their high school years. Singh told the courtroom that once he discovered that SBF was misusing funds, he pleaded with him to stop and consistently voiced his concerns, but he wouldn’t listen. Singh, who once lived in the much-talked-about FTX mansion in the Bahamas, testified that SBF spent about $1.13 billion on celebrity sponsorship deals, which included millions in payments to Stephen Curry, Tom Brady, Larry David, and Gisele Bundchen. Former FTX general counsel Can Sun also took the stand on behalf of the prosecution.
Singh’s testimony may be the nail in the coffin of SBF’s fate, but we have to remember the former engineering chief admitted to being implicit in these crimes because he was benefiting from them, too. The trial continues on Monday, and we may see the prosecution call Sam Trabucco, former co-CEO of Alameda Research, to the stand. Trabucco is the only former executive who has not been accused of wrongdoing himself since he left Alameda in August 2022, three months before SBF’s crypto empire came tumbling down.
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