The Vise Tightens on SBF as Former FTX Engineering Head Nishad Singh Pleads Guilty

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 2 March 2023

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

The latest big news, in the wake of FTX's collapse: Nishad Singh, former head of engineering, has pleaded guilty to six charges as well as a “no contest” to civil charges from the Securities and Exchange Commission and Commodity Futures Trading Commission. In todays’ episode, NLW explores what we've learned from the charges, including new revelations about FTX's 2021 revenue. - “The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: erhui1979/ Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.3	The breakdown is produced and distributed by CoinDes.
0:20.4	What's going on, guys? It is Wednesday, March 1st, and today we are talking about the latest
0:25.3	SBF's lieutenant to turn on him. Before we get into that, a quick note. There are two ways to
0:30.3	listen to The Breakdown. You can hear us on the Coin Desk podcast network feed, which comes out
0:34.1	every afternoon and features other great Coin Desk shows, or you can listen on the Breakdown Only feed, which comes out a few hours and features other great coin desk shows, or you can listen
0:37.5	on the breakdown-only feed, which comes out a few hours later in the evening.
0:41.0	Wherever you listen, if you are enjoying the show, I would so appreciate it if you would
0:44.1	take the time to leave a rating or a review. It makes a huge difference.
0:48.3	All right, friends, happy first of March. I joked today on Twitter that if you are in the
0:52.9	Northern Hemisphere, particularly the
0:54.7	northeast where I am, March always has this weird vibe where on the one hand, you think it's
1:00.2	going to be spring, because, you know, spring solstice happens and all of that. But in fact,
1:05.9	it is just second winter. And usually second winter is much less fun than first winter.
1:12.0	Well, when it comes to crypto, we got another reminder this week that we are still firmly
1:16.1	in winter or at least winter cleanup.
1:19.2	Yesterday, the news tightened around Sam Bankman-Fried even further as yet another of
1:23.6	FTC's most senior execs turned against him.
1:26.8	Former head of engineering at FTCX, Nishad Singh,
1:29.4	pled guilty to criminal fraud charges and agreed to assist prosecutors in their case against SBF.
1:34.9	As part of his agreement, Singh will plead guilty to one count of wire fraud, three counts of
	...

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