Nishad Singh was a close friend of Bankman-Fried's younger brother in high school, and became FTX's director of engineering in 2019.
According to CNBC, Singh was a close friend of Bankman-Fried's younger brother in high school and became FTX's director of engineering in 2019. In 2020, Singh allegedly altered FTX's software to allow Alameda, a firm where he had previously worked as chief executive, to avoid automatic asset sales when it was losing too much borrowed money.
This exemption allowed Alameda to continue borrowing from FTX regardless of how much collateral secured its loans, according to Reuters. The U.S. Securities and Exchange Commission has alleged that this code change gave Alameda a"virtually unlimited line of credit" at FTX, and that the billions of dollars FTX lent Alameda over the next two years came from FTX customers.
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