BlockBeats News, April 2nd, the U.S. Commodity Futures Trading Commission (CFTC) announced on Wednesday that it has reached a supplemental consent order regarding its enforcement action against FTX’s former Head of Engineering, Nishad Singh. Singh is required to pay a $3.7 million fine for his illegal gains and has been subject to a five-year trading ban and an eight-year registration ban, meaning he will not be able 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 the authorities.
Previously, Singh faced multiple legal actions from the CFTC, the U.S. Securities and Exchange Commission (SEC), and the Department of Justice for his role in the FTX November 2022 collapse and user funds embezzlement incident. His case with the SEC was settled in December 2025 with an eight-year industry ban. In the criminal aspect, Singh avoided decades in prison by testifying against former CEO Sam Bankman-Fried and cooperating with the prosecutors, receiving a sentence of time served plus three years of supervised release.
