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Nishad Singh has just been fined 3.7 million dollars by the CFTC. This guy was the former head of engineering at a platform that collapsed in 2022, so imagine the mess he was involved in.
The interesting part is that Nishad Singh not only has to pay that amount, but he was also banned from operating in markets for 5 years and from registering in the industry for 8 years. Basically, his crypto career is over for a good while. The CFTC considered that he cooperated with authorities, so he probably fared better than others involved.
Before this, Singh was already facing issues with the SEC and federal prosecutors. His case with the SEC was recently closed with similar restrictions. The strange thing is that he testified against the former CEO of that failed platform and collaborated with prosecutors, which helped him avoid decades in prison. Now he is serving his sentence with supervised release afterward.
Anyway, Nishad Singh ended up being one of those names linked to the biggest crypto collapse in years. Do you think this punishment was enough or should it have been more severe?