He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money.
The SEC and a spokesperson for Bankman-Fried declined to comment for this story. Singh did not respond to several requests for comment. Bankman-Fried has apologized to customers, but said he didn't personally think he had any criminal liability. He did not tell lawmakers about the software change to exempt Alameda. Indeed, he told investors that Alameda received no preferential treatment from FTX, the SEC complaint said.
To explain the change, Singh, the chief engineer, inserted a comment into the code: “Alameda would be liquidating, prevented.” He included a warning “not to liquidate the PMM."
SBF is a straw man
Can't see any difference
This FTX guy doesn't seem to be that smart or capable to start and run this business. Someone else did it. Who is she or he?
Didn’t this make Nishad Singh accountable as well? He knew what he was doing implementing that code? Is he exempt from responsibility?
Sleazebags
can't blame it all on a shell company
Crypto is meant to be hidden, and difficult to steal? Why keep it in someone else’s hand?
Amazing yet simple scheme
WOLF_Financial
gurgavin
Was it a quick books ledger?
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