SBF trial hears testimony that FTX deals with celebrities and influencers climbed to over $1 billion: Inner City Press

Quick Take

FTX deals with the Miami Heat, Steph Curry, Kevin O’Leary and other celebrities climbed to $1.3 billion, former FTX engineering director Nishad Singh said in court Monday.
Singh had also apparently asked Sam Bankman-Fried to use his personal money and not FTX money for a deal with “super networkers” Michael Kives and Bryan Baum and their company K5 Global.

FTX's former engineering director Nishad Singh read out a list of deals from a spreadsheet in court at Sam Bankman-Fried's criminal trial on Monday that showed funds given to celebrities and influencers climbed well over $1 billion, Inner City Press reported.

Such deals included the $135 million FTX spent to rename a famous entertainment complex in Miami to the FTX Arena (now Kaseya Center). Also on the list were $28 million paid to basketball player Steph Curry, $14 million to Canadian businessman Kevin O'Leary and undisclosed amounts to football quarterback Tom Brady, model Gisele Bundchen and actor Larry David.

These deals amassed to $1.3 billion, Singh was reported as saying.

Singh also touched on a conversation he had with Sam Bankman-Fried and Gary Wang concerning an investment in Michael Kive's and Bryan Baum's company K5 Global.

'Sam's money'

"Sam sent Gary and me a term sheet to give millions in bonus to Michael Kives and Bryan Baum, and a billion investment in their VC firm," Singh reportedly said. "I asked that it be done with Sam's money and not FTX's money."

Bankman-Friend entered a hasty deal with Kives and Baum, known as "super networkers," for $700 million, The Block previously reported.

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.