Nishad Singh, former engineering director at FTX, received no jail time for crypto fraud on Wednesday after United States District Judge Lewis Kaplan said his cooperation with the authorities, who sought to bring FTX founder Sam Bankman-Fried down, was "remarkable."

The judge shared he was convinced Singh hadn't known about the fraud for a long time and only learned about it much later on. Singh was, however, sentenced to three years of supervised release and was ordered to give $11 billion in damages. "Bankman-Fried was older than you, you were inexperienced, I imagine you had no idea what to do other than hope things got better. Then the crisis erupted and you realized that it was wrong and you tried to help," Kaplan remarked.

Meanwhile, Singh showed remorse during his sentencing and stated that he "strayed so far from [his] values," adding that he "can't express" how sorry he was.