Nishad Singh, who was head of engineering at FTX, said he “learned of a hole” in the company’s finances in September 2022. Though he noticed around $8 billion missing from Bankman-Fried’s company, he nevertheless approved transactions that he “implicitly” knew had to have come from user deposits, Singh testified Monday. That money was apparently funneled to Bankman-Fried’s affiliated trading firm, Alameda Research.
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