Nishad Singh says there was 'a lot' he didn't remember about FTX in 2022 — SBF trial
Lawyers representing former FTX CEO Sam “SBF’ 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 “there was a lot” he didn’t 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’s liabilities until overhearing a discussion between former FTX chief technology officer Gary Wang and former FTX developer Adam Yedidia.
“It was an $8 billion hole,” Singh said according to reports on the fallout from the bug. “Caroline posted a screenshot of a graph showing Alameda's unexplained balance breaks over time, and the bug explained it.”
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Defense attorneys’ cross-examination of Singh marked the tenth day of SBF’s 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 amid FTX’s financial troubles in November 2022, expressing concern about the lack of transparency in Alameda using FTX customer funds for investments.
Related: FTX customers could get $9B shortfall claim payout by mid-2024
Prosecutors are expected to continue calling witnesses to testify on SBF’s alleged actions and the events leading up to the downfall of FTX until Oct. 26 or 27, after
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