A Top FTX Executive Will Plead Guilty to Fraud

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Nishad Singh, FTX’s former CTO, intends to plead guilty to fraud for his role in the crypto exchange, Bloomberg has reported.

According to the publication’s sources, Singh is discussing a possible deal with prosecutors, which has not yet been concluded.

Two other associates of Sam Bankman-Fried, the former CEO of Alameda Research Caroline Ellison and the co-founder of the exchange Gary Wang, pleaded guilty in December to charges related to the collapse of FTX.

Singh created the platform software and played an important role in FTX’s day-to-day operations. He was part of Bankman-Fried’s inner circle, living with him in a penthouse in the Bahamas.

The FTX CTO was involved in the transfer of political donations to the US.