On Nov. 6, 2022, Nishad Singh, the former head of engineering of FTX, messaged Sam Bankman-Fried, his boss and the former CEO of the now-bankrupt crypto exchange.
Having drawn out approximately $500 million in personal loans, Singh, responding to the ongoing collapse of FTX, wanted to backdate a cryptocurrency trade to write off some of the significant debt for which he was personally responsible. “I think that’s probably fine,” Bankman-Fried told Singh over Signal, an encrypted messaging app.
