The trial of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried (SBF), continued on October 17 with the cross-examination of FTX’s former Director of Engineering Nishad Singh. In continuation of what was said from the previous day, Singh provided more details as to SBF’s wrongdoings while being cross-examined by SBF’s lawyer, Mark Cohen.
Sam Bankman-Fried Downplayed The Negative Balance
During direct examination on October 16, Singh had mentioned that Alameda Research’s negative balance had grown to as much as $8 billion, something which he heard from a conversation between FTX’s co-founder Gary Wang and Adam Yedidia.
Following that event, the engineer stated that Alameda’s ex-CEO, Caroline Ellison, sent a spreadsheet to him, Wang, and SBF, which showed the negative balance in the accounts. However, according to Singh, Sam Bankman-Fried downplayed it and stated that it was a bug.
He also mentioned that Sam Bankman-Fried had proposed to him that he ta
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