FTX Executive Singh Says He Knew of Missing Billions, Bankman-Fried Ignored Concerns

Former FTX executive Nishad Singh testified he knew $8 billion of customer funds were missing in September 2022.

Singh said the missing funds were used by Alameda Research for investments, donations, real estate, etc.

Prosecutors focused on how Bankman-Fried directed investments to gain influence, ignoring objections.

Singh expressed early admiration for Bankman-Fried but said it eroded over misuse of customer funds.

Singh testified after FTX customer Tareq Morad, who lost $250k-280k in deposits on the exchange.