As the investigation into FTX continues, the crypto exchange’s former engineering chief, Nishad Singh, followed former FTX and Alameda Research executives Gary Wang and Caroline Ellison by reportedly meeting with federal prosecutors to cut a deal.
Singh attended a proffer session during the week of Jan. 2 at the office of the United States Attorney for the Southern District of New York. Individuals may be granted limited immunity to share their knowledge with prosecutors at such meetings. Prosecutors likely sought to determine if Singh has valuable information to offer in the lawsuit against FTX founder Sam Bankman-Fried, FTX collapse may boost ‘further trust’ in crypto ecosystem — Nomura exec
This comes after news in December 2022 that politicians and news organizations reportedly planned to return $6.6 million in donations from FTX, with three prominent Democratic groups having decided to return over $1 million to investors that had lost funds.
In a November 2022 filing, it was revealed that Alameda loaned $543 million to Singh, one of three related party loans given by the trading firm. The filing also revealed a $1 billion loan to Bankman-Fried and $55 million to the then FTX Digital Markets co-CEO Ryan Salame.
