Former FTX Engineering Chief Nishad Singh Fined $3.7 Million by CFTC, Banned from Trading and Registration

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On April 2, the U.S. Commodity Futures Trading Commission (CFTC) announced a supplemental consent order regarding its enforcement action against former FTX engineering chief Nishad Singh. Singh is required to pay $3.7 million in illicit gains and has been imposed a five-year trading ban and an eight-year registration ban, meaning he will be unable to obtain licenses to operate in the relevant industry. The CFTC’s enforcement director stated that this penalty decision took into account Singh’s cooperation with authorities. Previously, Singh faced multiple legal actions from the CFTC, the U.S. Securities and Exchange Commission (SEC), and the Department of Justice due to his role in the collapse of FTX in November 2022 and the misappropriation of user funds. His case with the SEC was settled in December 2025 with an eight-year industry ban. In criminal matters, Singh testified against former CEO Sam Bankman-Fried and cooperated with prosecutors, ultimately receiving a sentence that included three years of supervised release after serving his time, avoiding decades of imprisonment.

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