Former FTX Engineering Director Nishad Singh was fined $3.7 million by the CFTC and received a trading and registration ban

Golden Finance reports that on April 2, the U.S. Commodity Futures Trading Commission (CFTC) announced on Wednesday that it has reached a supplemental consent order in its enforcement action against former FTX engineering chief Nishad Singh. Singh must pay $3.7 million in illegal proceeds, and is subject to a five-year ban on trading in the markets and an eight-year ban on registration, which means he cannot obtain a license to operate in the relevant industry. A CFTC enforcement official said that this penalty decision took into account Singh’s cooperation with authorities. Previously, Singh faced multiple legal lawsuits from the CFTC, the U.S. Securities and Exchange Commission (SEC), and the Department of Justice for his role in the November 2022 FTX collapse and the alleged misappropriation of user funds. His case with the SEC was resolved in December 2025 with an eight-year industry ban. In the criminal case, Singh testified at trial for former CEO Sam Bankman-Fried and cooperated with prosecutors, and was ultimately sentenced to an additional three years of regulatory release after completing his prison term, avoiding decades of imprisonment.