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Unchained

SBF Trial, Day 9: Nishad Singh Describes Former FTX CEO as a Bully and Big Spender

Unchained

Laura Shin

Tech News, Business News, News

4.61.3K Ratings

🗓️ 17 October 2023

⏱️ 13 minutes

🧾️ Download transcript

Summary

The third week of the criminal trial against Sam Bankman-Fried began Monday. Nishad Singh, one of three key witnesses for the prosecution, testified about the alleged misuse of customer funds and a toxic work environment at FTX, created by Sam Bankman-Fried. Singh's account echoed earlier testimony by former Alameda CEO Caroline Ellison and former FTX CTO Gary Wang and raised questions anew about the company's venture investments, excessive spending on sponsorships, and attempts to deceive regulators. Singh also described his growing concerns about Bankman-Fried's lavish spending, even as the company faced mounting financial difficulties.  Catch up on Unchained’s previous coverage:  SBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF’s Family SBF Trial, Day 2: DOJ Says Sam Bankman-Fried ‘Lied’ While Defense Claims His Actions Were ‘Reasonable’ SBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact SBF Trial, Day 4: SBF’s Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda’s Special Privileges SBF Trial, Day 5: SBF's Defense Finally Found Its Legs, But Can It Counter Caroline Ellison? SBF Trial, Day 6: Caroline Ellison Recalls 'The Worst Week of My Life' SBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness? SBF Trial, Day 8: Former BlockFi CEO Adds Credibility to Fraud Charges Did Sam Bankman-Fried Have Intent to Defraud FTX Investors? Why These Lawyers Say It's Over for SBF-But His Only Hail Mary Is to Testify Here’s How Sam Bankman-Fried’s High-Stakes Trial Could Play Out SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case The High-Stakes Trial of Sam Bankman-Fried Begins: What to Expect Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This episode is brought to you by Kraken.

0:03.0

Crypto is like finance, but different.

0:06.6

It doesn't care when you invest, trade, or save, do it on weekends, or at 5am, or on

0:12.7

Christmas day, at 5am.

0:15.3

Crypto is finance for everyone, everywhere, all the time.

0:19.5

Visit Kraken.com slash see what crypto can be, to learn more.

0:23.0

Don't invest unless you're prepared to lose all the money you invest.

0:25.7

This is a high-risk investment, and you should not expect to be protected if something

0:28.9

goes wrong.

0:29.9

Connect with your customers in a whole new way, with Salesforce Customer 360.

0:35.9

Harness the power of trusted AI, to enhance your customer experience, and unite your teams

0:41.5

around a single shared view of every customer in your business.

0:45.6

Empower teams with trusted AI, from a secure, scalable platform.

0:50.4

With Salesforce Customer 360, now everyone's in Einstein.

0:54.4

Go to Salesforce.com, forward slash 360, to learn more.

1:04.0

Hi everyone, thanks for tuning in to the Unchained Recap for day 9 of the Criminal Trial for

1:08.6

Sam Bigman Fried.

1:10.5

In devastating testimony for the defense, former FTX head of engineering, Nishad Singh, detailed

1:15.7

instances of bullying behavior from XCEO Sam Bigman Fried, and numerous times when SPF used

1:21.6

customer funds to fuel his spending spree.

1:25.0

Singh described an organization that allegedly defrauded FTX customers by freely spending

1:29.9

customer assets on ill-advised investments, sponsorships, and political action, all at

...

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