Nishad Singh, former director of engineering at FTX, testified that founder Sam Bankman-Fried spent large sums of money on various expenses, including real estate, venture investments, campaign donations, and celebrity endorsements. Singh expressed concerns about the excessive spending, which is crucial to the prosecution's case regarding the alleged fraud involving customer funds. Bankman-Fried faces multiple criminal charges related to the collapse of FTX and Alameda. Singh, who pleaded guilty to charges in February, testified about his involvement and the extensive spending by Bankman-Fried. The trial is expected to continue until November.

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