Nishad Singh, a top FTX executive, is given no prison time after cooperation

Nishad Singh, who was a top adviser to disgraced cryptocurrency mogul Sam Bankman-Fried, avoided prison time for his role in the collapse of the FTX crypto exchange, after a federal judge on Wednesday lauded his cooperation with U.S. prosecutors.

Singh, 29, was sentenced to three years of supervised release at a hearing in U.S. District Court in Manhattan, an unexpected reprieve after Bankman-Fried and two other FTX executives received long sentences. Judge Lewis A. Kaplan, who has presided over the cases, said that Singh provided crucial assistance to the government and that he had played a “much more limited” role in the scheme than his colleagues had.