Nishad Singh sentenced to supervised release
Nishad Singh, former head of engineering at FTX (CRYPTO:FTT), has been sentenced to time served and three years of supervised release, avoiding further imprisonment after his involvement in the fraud at the collapsed crypto exchange.
The sentence, handed down by Judge Lewis A. Kaplan in New York, includes an $11 billion forfeiture.
Singh’s cooperation with authorities, which involved revealing previously undisclosed misconduct within FTX, significantly influenced the decision to grant him a lenient sentence.
Singh initially faced up to 75 years in prison after pleading guilty to six criminal charges.
However, his attorneys argued for leniency, emphasizing his “limited role” in the FTX fraud, his remorse, and efforts to rebuild his life.
Judge Kaplan acknowledged Singh’s cooperation as “remarkable,” highlighting that his involvement was less extensive than that of former FTX founder Sam Bankman-Fried and ex-Alameda Research CEO Caroline Ellison.
According to Judge Kaplan, Singh’s cooperation played a critical role in the case, as he assisted authorities over 24 sessions, offering evidence about FTX’s undisclosed activities.
Singh’s lawyer, Andrew Goldstein, argued that Singh’s role was minor compared to other key figures in FTX, such as Ellison and co-founder Gary Wang.
“He was not directly involved in the core conspiracy surrounding FTX’s collapse,” Goldstein stated.
Singh reportedly became aware of Alameda’s improper use of FTX customer funds only two months before the exchange’s failure.
Prosecutors recognized Singh’s “extensive cooperation” and noted his contributions to exposing a hidden campaign finance scheme linked to FTX.
Based on these revelations, Singh’s input has been instrumental to the investigation.
Ellison previously received a two-year sentence, while Bankman-Fried was sentenced to 25 years.
Ryan Salame, former head of FTX Digital Markets, received seven and a half years after declining to cooperate, while Wang’s sentencing is scheduled for November 20.
At the time of reporting, the FTX price was $1.72.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








