After the FTX exchange collapsed, Riot Games tried to get out of the deal late last year.
Former FTX engineer Nishad Singh has testified on Tuesday that SBF agreed to pay huge amounts to celebrities like Tom Brady, Gisele Bündchen, Larry David, in addition to other deals in new testimony.
Nishad Singh: SBF made a deal with League of Legends
Nishad Singh testified today that Sam Bankman-Fried planned to give League of Legends creator Riot Games almost $100M over seven years in a sponsorship deal.
After the FTX exchange collapsed, Riot Games tried to get out of the deal late last year.
FTX had also pledged to contribute $42M over the course of 2026 to the Tomorrowland music festival. The document also noted that the annual Coachella music festival in southern California signed a $25M contract with FTX.
In his observation of the opulent Bahamas lifestyle led by FTX executives during their heyday, Singh mentioned that he and his fiancée Claire Watanabe resided in “the nicest room” within the expansive $30 million residence.
Read more: Caroline Ellison takes the stand: SBF told me to commit crimes, I sent fake balance sheets
There were benefits in the deals
Singh admitted that there were benefits to the deal that FTX struck with the A-list celebrities. However, he insisted that SBF was incharge of all the agreements.
“I believe it could be valuable to the business…depending on the circumstances,’ he said. “I understood it had business benefits and costs.”
The spreadsheet that detailed the excessive spending of the exchange was entered into evidence on Monday by the prosecution. The sheet has now been made available in its entirety on Tuesday, showing the reckless string of expenditure that FTX engaged in with customers’ funds.
According to Singh’s testimony on Monday, Ryan Salame, the former CEO of FTX, had permission to access his bank account and make political donations. The money for the donation came from Alameda but, according to Singh, it went through his bank account.
He noted that he took issues with SBF’s spending appetite.
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