Former FTX engineering chief Nishad Singh was fined $3.7 million by the CFTC and placed under a trading and registration ban.

Mars Finance reports that the U.S. Commodity Futures Trading Commission (CFTC) announced on Wednesday that it has obtained a supplemental consent order for its enforcement action against Nishad Singh, former engineering head of FTX. Singh will have to pay $3.7 million in illicit gains and will be subject to a five-year market trading ban and an eight-year registration ban, meaning he will be unable to obtain a license to operate in the relevant industry. The CFTC enforcement director stated that this penalty decision took into account Singh's cooperation with the authorities. Previously, Singh faced multiple lawsuits from the CFTC, the Securities and Exchange Commission (SEC), and the Department of Justice for his role in FTX's collapse 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. Criminally, Singh's testimony before former CEO Sam Bankman-Fried and his cooperation with prosecutors ultimately resulted in a sentence of three years of supervised release after serving his full prison term, avoiding decades of imprisonment.