As their children are sentenced for fraud, the parents of FTX’s top leaders have described their disbelief at how the crypto exchange upended their lives.

The week that FTX collapsed in 2022, the father of Nishad Singh, one of the crypto exchange’s top executives, arrived at the airport to pick him up.

His son, who had just turned 27, appeared suicidal. “Nishad was a shell of himself, completely destroyed by his guilt,” Gururaj Singh, a veteran tech executive, recalled in a recent court filing.

For the next five months, the elder Mr. Singh, now 63, put his career on hold to focus on his son’s mental health. “Every minute I was not next to him, I worried that I would be told by someone that he had just ended his life,” he wrote.

He also had to come to terms with an alarming fact: His son, a talented software engineer who had graduated with

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