Who is Nishad Singh, Former Director of Engineering, FTX? | Jobs Vox

  • Nishad Singh was the engineering director of FTX and had a 7.8% stake in the crypto exchange.
  • The 27-year-old has stayed out of the public eye while other top executives make headlines for their roles in the downfall of FTX.
  • According to the bankruptcy filing, Singh received a $543 million loan from Alameda Research.

Since the collapse of FTX last month, one of the firm’s key executives, Nishad Singh, has stayed out of the public eye, while other top figures have ended up in the crosshairs of investigations into the exchange.

Singh was the engineering director of FTX, and held a 7.8% stake in the company.

FTX filed for bankruptcy protection last month, and the investigations and allegations against top executives at the firm are related to the misappropriation of client funds by the firm’s affiliated trading arm, Alameda Research.

John Ray, the new CEO of FTX, said during the bankruptcy proceedings, “The downfall of FTX Group appears to have stemmed from the complete concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals.”

While most of the attention in the media has been on Bankman-Fried, there were other executives involved in what prosecutors have called “one of the biggest financial frauds in US history”, including Alameda CEO Carolyn Ellison and FTX co-founder Gary Wang is included. , Both have pleaded guilty to charges of defrauding investors and cooperating with prosecutors.

Singh was reportedly one of the few people who knew that FTX was misappropriating customer funds, along with Bankman-Fried, Ellison and Wang.

Singh’s nearly 8% stake, which also includes FTX subsidiary FTX.US, was valued at around $572 million in March this year. He also previously had a $543 million loan from Alameda, according to the bankruptcy filing.

“Gary is scared, Nishad is ashamed and guilty,” Bankman-Fried told a Vox reporter after the firm filed for bankruptcy. “it hit [Nishad] Rigorous.”

Singh was a high school friend of Bankman-Fried’s brother, Gabe. The former executive worked as an engineer at Facebook (now Meta) before Bankman-Fried recruited him for Alameda, according to Singh’s LinkedIn page, which has since been deleted.

Bankman-Fried previously wrote in a blog post, “In addition to building most of our technical infrastructure and managing most of our development team, his treatment of employees has earned him sole membership in our Slack group ‘Kings of Kindness. Is it.”

Bloomberg, citing an interview with the disgraced founder earlier this year, reported that Singh was one of five co-workers whom Bankman-Fried referred to as a billionaire. In 2012, Singh also set the world record for the fastest 100-mile run by a 16-year-old, according to local newspaper The Mercury News.

A year after Singh became FTX’s director of engineering, he became a regular donor to the Democratic Party. He gave $8 million to the federal campaigns of Democratic candidates in the 2022 election cycle, according to the nonprofit OpenSecrets.

“Currently, I am fortunate that there are many ways that I can accomplish in this job — one of which is doing something that is probably very good from an effective philanthropic perspective,” Singh previously said in a podcast.

Singh could not be reached for comment.

On Thursday, Bankman-Fried was released on $250 million bail and sent to live at her parents’ California home while awaiting trial.

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