- FTX co-founder Gary Wang and Alameda Research’s ex-CEO Caroline Ellison had already pleaded guilty.
- FTX founder Sam Bankman-Fried denied accepting the criminal charges against him, leading to the trial starting in a few months.
- Nishad Singh’s deal with the federal prosecutors is yet to be finalized.
FTX saga continued on Friday as another former member of the bankrupt exchange gave themselves up to the feds. With some of the topmost executives of the company complying with law enforcement, it stands to be seen whether the founder Sam Bankman-Fried himself, would do it or not.
FTX executive admits to fraud
Acting as the Director of Engineering at FTX before the cryptocurrency exchange collapsed last November, Nishad Singh gave in to the fraud charges on Friday. Deciding to plead guilty to his role in the alleged fraud, Nishad is yet to finalize a deal with the Federal Prosecutor.
As reported by Bloomberg, Singh might very possibly offer insider details about the operations that went by at FTX, particularly detailing the finance side. This is something the feds have been attempting to get a grasp of.
Furthermore, apart from the fraud charges from Federal Prosecutors, The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are allegedly looking to sue Nishad Singh. No details from either of the agencies have been shared, though.
Sam Bankman-Fried all alone
With Singh giving up and cooperating with the authorities, Sam Bankman-Fried has now been left alone as the only person from FTX’s inner circle to fight the charges placed against them.
The bankrupt exchange’s co-founder Gary Wang had already pled guilty to the charges placed on him last year. Along with Wang, FTX’s sister company’s ex-CEO Carolie Ellison also took the same route to cooperation.
Sam Bankman-Fried, on the other hand, denied the charges and is now looking at far bigger problems to deal with. Due to his lack of cooperation, Bankman-Fried is now set to face the trial towards the end of Q2.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Dogecoin Price Forecast: DOGE whale transactions fell by more than 70%; bearish move ahead
Dogecoin (DOGE) continues to trade down around $0.24 after falling more than 7% in the previous week. The technical outlook suggests a further correction as DOGE’s momentum indicators reflect bearish divergences

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP are headed for further drops
Bitcoin's (BTC) price continues to edge down, trading below $96,000 on Monday after declining the previous week. Ethereum (ETH) and Ripple (XRP) prices followed BTC's footsteps, declined more than 7% the previous week, and traded below their key support level, hinting at further correction.

XRP sees gains ahead of Depository Receipts launch, Brad Garlinghouse set to join White House crypto council
Ripple's XRP gained 4% on Friday following reports that investment firms Receipts Depository Corp and Digital Wealth Partners plan to launch XRP Depository Receipts in the United States.

Ethereum Price Forecast: ETH could hit $1,200 as Trump announces plans for reciprocal tariffs next week
Ethereum declined 4% on Friday following United States (US) President Donald Trump's plan to announce reciprocal tariffs on several countries next week.

Bitcoin: BTC shows weakness, bears aiming for $90,000 mark
Bitcoin (BTC) price hovers around $97,000 on Friday after losing nearly 5% in the last three days. CryptoQuant weekly report shows that activity on the Bitcoin network has declined to its lowest level in a year. Traders should watch FTX's upcoming repayments to creditors starting on February 18, which could bring in volatility for Bitcoin prices.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.