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FTX: Chief engineer’s tell-all reveals SBF’s lies. What happens next?

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The criminal trial of Sam Bankman-Fried (SBF) enters its third week of hearing with another of his close circle members spilling the tea. Today (16 October), the spotlight lies on the former chief engineer — Nishad Singh, and his side of the story which fills the gaps from previous testimonies.

As per Inner City Press, Singh started by admitting to committing fraud and campaign finance violations along with SBF, Caroline Ellison, and others. The former executive stated that he had met Bankman-Fried through his younger brother Dave, one of his close friends. The UC Berkeley graduate started working for Alameda Research – the investment arm of FTX – in 2017 as a software engineer.

Singh revealed that SBF was the one making calls on the endorsement deals and venture investments. At its zenith, FTX was spending millions on celebrities for endorsement purposes. SBF even wanted to bring in Taylor Swift, an American pop and country music star for $100 million. However, the plan went kaput after massive disapproval from the firm’s executives.

Nonetheless, by the time of its collapse, FTX had spent a whopping $1 billion on endorsements. Speaking about this, Singh expressed that he was “upset” given the sheer scale of money spent. He said,

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“I said this is crazy, cut this. He (SBF) said he didn’t think these were bad spends. I pointed at a couple. He said he agreed, but that cutting would cost 70% of seeing them through.”

AUSA: And Tom Brady and Gisele Bundchen?
Singh: A quarterback and a model.
AUSA: And Larry David?
Singh: From Seinfeld…
AUSA: How much did all these deals add up to?
Singh: $1.3 billion.
Judge Kaplan: Let's take our morning break.
Thread will continue in 15 min

— Inner City Press (@innercitypress) October 16, 2023

Moreover, Bankman-Fried was also the ultimate decision-maker with matters related to Alameda’s money. Labeling him as an “excessive” spender, Singh stated that SBF had “threatened to fire Caroline,” the former CEO of Alameda.

Furthermore, Singh also detailed the campaign donations made under his name. He stated that Ryan Salame — former CEO of FTX — used his bank account and Prime Trust account to make transactions. He also claimed that his name was used for donations for “advantageous optics”, while the money came from Alameda, which in turn from FTX customers.

Singh claimed that his direct involvement in a majority of these donations was “very little”, with his role limited to “click(ing) the button”. He added, “I tried to be a(s) uninvolved as possible. There was a Signal chat called Donations Processing”.

Singh: Then they used my Wells Fargo account. They asked if they could use me to make contributions to many Democratic candidates. I agreed.
Judge Kaplan: What is At Blue?
Singh: A platform to make donations to Democrats. I was supposed to sign a lot of checks

— Inner City Press (@innercitypress) October 16, 2023

Toward the end, Sing spoke about the events that unfurled during the collapse of FTX in November 2022. He revealed that there was a discussion among him, SBF, and Ryan Salame about calling the exchange solvent during the bank run, which he found “not true”. This plan included putting out strong Tweets to mislead customers.

As per Ellison’s hearing, SBF had drafted a Tweet to be posted on her X (formerly Twitter) account. The Tweet was directed at Binance’s CEO, Changpeng Zhao, to call out on his “bluff” of selling their FTT, which had driven the market into further frenzy. Singh said,

Singh: They were talking about making the tweets strong, which I understood to mean misleading –
SBF's lawyer: Objection!
Judge Kaplan: Overruled.
Singh: Confident and so misleading.
AUSA: I could stop here
Judge Kaplan: Go on.

— Inner City Press (@innercitypress) October 16, 2023

He expressed that during this timeframe he was “suicidal” and had sought answers from SBF on his role in the collapse. Particularly, he wanted clarification that he “only became aware late in the game”.

Singh: Gary said Alameda was borrowing $13 billion from FTX. I was hoping I'd misunderstood. FTX itself didn't have that much money.
AUSA: How did the defendant respond?
Singh: I was sitting next to him. He seemed unsurprised. He made up a false excuse for dodging

— Inner City Press (@innercitypress) October 16, 2023

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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