Nishad Singh, who was head of engineering at FTX, said he “learned of a hole” in the company’s finances in September 2022. Though he noticed around $8 billion missing from Bankman-Fried’s company, he nevertheless approved transactions that he “implicitly” knew had to have come from user deposits, Singh testified Monday. That money was apparently funneled to Bankman-Fried’s affiliated trading firm, Alameda Research.
Source: https://www.coindesk.com/policy/2023/10/16/live-former-ftx-executive-nishad-singh-takes-stand-in-case-against-sam-bankman-fried/?utm_medium=referral&utm_source=rss&utm_campaign=headlines