FTX former engineering executive Nishad Singh fined $3.7 million by the CFTC and barred from trading and registration

Mars Finance news: On Wednesday, the U.S. Commodity Futures Trading Commission (CFTC) announced that it had reached an additional consent order agreement regarding its enforcement action against Nishad Singh, the former engineering chief of FTX. Singh must pay $3.7 million in illicit profits 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 licenses to operate in the relevant industry. The CFTC’s head of enforcement said that this penalty decision takes into account Singh’s cooperation with the authorities. Previously, Singh faced multiple legal actions by the CFTC, the U.S. Securities and Exchange Commission (SEC), and the Department of Justice due to his role in the events surrounding FTX’s bankruptcy 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 the criminal matter, Singh was ultimately sentenced to three years of regulatory release after completing his prison term, avoiding decades of imprisonment, after he testified in court against former CEO Sam Bankman-Fried and cooperated with prosecutors.