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Home ยป testimony in the SBF trial reveals that FTX transactions with influential people and celebrities reached over $1 billion: Inner City Press

testimony in the SBF trial reveals that FTX transactions with influential people and celebrities reached over $1 billion: Inner City Press

Former FTX engineering director Nishad Singh testified in court on Monday that FTX deals with the Miami Heat, Steph Curry, Kevin O'Leary, and other celebrities reached $1.3 billion

by V. Sinclair
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In court on Monday during Sam Bankman-Fried’s criminal prosecution, FTX’s former engineering director Nishad Singh read out a list of deals from a spreadsheet that revealed money provided to celebrities and influencers increased to well over $1 billion, according to Inner City Press.

One such transaction saw FTX pay $135 million to rename a well-known Miami entertainment complex the FTX Arena (now Kaseya Center). Steph Curry, a basketball player, received $28 million, Kevin O’Leary, a Canadian businessman, received $14 million, and Tom Brady, a football quarterback, Gisele Bundchen, a model, and actor Larry David each received unknown sums of money.

The total value of these transactions, according to Singh, was $1.3 billion.

Singh also discussed a discussion he had with Sam Bankman-Fried and Gary Wang about a potential investment in the business of Michael Kive and Bryan Baum, K5 Global.

“Sam’s money” was described as “Sam sent Gary and me a term sheet to give millions in bonuses to Michael Kives and Bryan Baum, and a billion investment in their VC firm,” according to Singh. “I asked that it be done with Sam’s money and not FTX’s money.”

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