Nishad Singh, a former top engineer at the defunct crypto exchange network FTX, testified on Oct. 16 that the network’s ex-CEO, Sam Bankman-Fried, had planned a potential deal with Telegram for TON tokens.
Singh commented when testifying in the ongoing court case against the former FTX CEO for financial malpractices and fraud.
FTX Pitched an Idea for a Deal with Telegram
Singh admitted that he was involved in defrauding customers and participating in money laundering. He mentioned Bankman-Fried, Gary Wang, Caroline Ellison, and Ryan Salame as co-conspirators.
In September 2022, while SBF was in the Middle East trying to raise money, SBF pitched the idea of a deal with Telegram to get $TON tokens. This would cost $120 million
A. There was a point when Sam was in the Middle East, he sent a message to a Signal group called hashtag…
— BitMEX Research (@BitMEXResearch) October 17, 2023
As described by Singh, part of the scheme unfolded last September when Sam Bankman-Fried was in the
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