Nishad Singh, who co-founded FTX alongside Sam Bankman-Fried and Gary Wang, would like to cooperate with authorities regarding the ongoing investigation into FTX. Although low-key, he himself has been involved in numerous suspicious activities including funding Democratic Party candidates in the United States, and has also received hundreds of millions of dollars in loans from Alameda Research.
A former associate close to Sam Bankman-Fried wants to plead guilty
Nishad Singha former close associate of Sam Bankman-Fried who once sat to the position of chief engineer of FTX, would like to cooperate with the authorities regarding the ongoing investigation into the exchange.
According to our colleagues from Bloomberg, who revealed the information first, the agreement is being finalized and would potentially allow the 27-year-old to reveal information regarding SBF election funding and its close circle. Nishad Singh would also be concerned, since he would have himself donated more than $9.3 million to various Democratic candidates since the year 2020.
The financing of certain candidates has been so prominent among prominent members of FTX that this “activity” is now under investigation by the authorities on its own. Former FTX CEO Sam Bankman-Fried is accused of violating US campaign finance laws.
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Although Nishad Singh wanted to be rather discreet, his name having not been released so far, he did, however, occupy a prominent role within FTX and benefited greatly from it. He reportedly personally donated $1 million to the political action committee Mind The Gap, which was founded by none other than Sam Bankman-Fried’s mother. Separately, Singh also reportedly received several hundred million dollars from Alameda Research in the form of loans.
Following this possible cooperation agreement, Nishad Singh would join the ranks of Caroline Ellison and Gary Wangwho served in key positions at Alameda Research and FTX who also pleaded guilty to the various charges against them.
The vice thus continues to tighten for Sam Bankman-Fried, his former lieutenants abandoning him little by little. However, we can only underline the preferential regime enjoyed by the former CEO of FTX, who is still on parole as the evidence against him continues to pour in.
At the same time, Alexey Pertsev, the developer of Tornado Cash, has seen his imprisonment extended until April while the charges against him remain rather vague.
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Source: Bloomberg
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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