FTX co-founder Nishad Singh just pleaded guilty to fraud. That's bad news for SBF, who has maintained his innocence in the crypto fiasco.
FTX co-founder Nishad Singh has pleaded guilty to fraud, a major blow to his former boss Sam Bankman-Fried, the crypto company’s former CEO, who has denied ripping customers off.
Reports of financial irregularities at Alameda sparked the scandal that eventually led to FTX’s bankruptcy late last year. But Bankman-Fried pleaded not guilty to fraud charges. He was extradited from the Bahamas and now lives with his parents in Palo Alto after posting $250 million bail. Singh’s guilty plea is bad news for Bankman-Fried, who has denied that he engaged in fraudulent schemes that hurt FTX’s customers.
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