{"id":176019,"date":"2023-10-17T23:18:12","date_gmt":"2023-10-17T17:48:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176019"},"modified":"2023-10-17T23:18:12","modified_gmt":"2023-10-17T17:48:12","slug":"nishad-singh-says-there-is-a-lot-he-doesnt-remember-about-ftx-in-2022-sbf-trial-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nishad-singh-says-there-is-a-lot-he-doesnt-remember-about-ftx-in-2022-sbf-trial-crypto-news\/","title":{"rendered":"Nishad Singh says there is \u2019a lot\u2019 he doesn\u2019t remember about FTX in 2022 \u2014 SBF trial – Crypto News"},"content":{"rendered":"
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Lawyers representing former FTX CEO Sam \u201cSBF\u201d Sam Bankman-Fried conducted their cross-examination of Nishad Singh, pressing the former engineering director on events leading to Alameda Research using funds from the crypto exchange.<\/p>\n

According to reports from the courtroom on Oct. 17, Singh admitted<\/a> \u201cthere was a lot\u201d he didn\u2019t remember from June to July 2022 under questioning from SBF defense attorney Mark Cohen. The former FTX director reportedly said he had no knowledge of a software bug that exaggerated Alameda\u2019s liabilities until overhearing a discussion between former FTX chief technology officer Gary Wang and former FTX developer Adam Yedidia. <\/p>\n

\u201cIt was an $8 billion hole,\u201d Singh said, according to reports on the fallout from the bug. \u201cCaroline posted a screenshot of a graph showing Alameda\u2019s unexplained balance breaks over time, and the bug explained it.\u201d\u00a0<\/p>\n

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Subscribe to our \u20181 Minute Letter\u2019 NOW for daily deep-dives straight to your inbox! \u2696\ufe0f Be the first to know every twist and turn in the Sam Bankman-Fried case! Subscribe now: https:\/\/t.co\/jQOIYUv6IW<\/a> #SBF<\/a> pic.twitter.com\/gp7zJu5sgy<\/a><\/p>\n

\u2014 Cointelegraph (@Cointelegraph) October 5, 2023<\/a><\/p><\/blockquote>\n

Defense attorneys\u2019 cross-examination of Singh marked the 10th day of SBF\u2019s criminal trial in New York, where Bankman-Fried faces seven charges related to fraud at FTX and Alameda. Singh testified on Oct. 16 that he had been experiencing suicidal thoughts<\/a> amid FTX\u2019s financial troubles in November 2022, expressing concern about the lack of transparency in Alameda using FTX customer funds for investments.\u00a0<\/p>\n

Related: <\/em><\/strong>FTX customers could get $9B shortfall claim payout by mid-2024<\/em><\/strong><\/a><\/p>\n

Prosecutors are expected to continue calling witnesses to testify on SBF\u2019s alleged actions and the events leading up to the downfall of FTX until Oct. 26 or 27, after which the defense team will present its theory of the case. To date, former Alameda CEO Caroline Ellison, Wang and Yedidia have all testified at trial<\/a>, as have a few former FTX clients.\u00a0<\/p>\n

Bankman-Fried\u2019s first criminal trial is expected to wrap in November. He will face an additional five counts in a second trial scheduled to begin in March 2024, and has pleaded not guilty to all charges.<\/p>\n

Magazine: <\/em><\/strong>Can you trust crypto exchanges after the collapse of FTX?<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Lawyers representing former FTX CEO Sam \u201cSBF\u201d Sam Bankman-Fried conducted their cross-examination of Nishad Singh, pressing the former engineering director on events leading to Alameda Research using funds from the crypto exchange. According to reports from the courtroom on Oct. 17, Singh admitted \u201cthere was a lot\u201d he didn\u2019t remember from June to July 2022 […]<\/p>\n","protected":false},"author":2,"featured_media":176020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176019"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176019\/revisions"}],"predecessor-version":[{"id":176022,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176019\/revisions\/176022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176020"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}