"FTX Executive Exposes Sam Bankman-Fried's Misuse of Customer Funds"
Nishad Singh, a former top executive at FTX, testified at Sam Bankman-Fried's fraud trial, accusing the FTX founder of using customer money for extravagant spending on luxury real estate, celebrity endorsements, and political contributions. Singh revealed an $8 billion hole in FTX customer accounts, with much of the missing money allegedly financing Bankman-Fried's lavish lifestyle. Singh, who pleaded guilty to fraud, expressed feeling betrayed and ashamed, and testified about Bankman-Fried's excessive spending and interest in investing in a firm with ties to celebrities. Bankman-Fried, charged with orchestrating a scheme to funnel customer deposits, faces criminal charges.