Ex-FTX Exec Nishad Singh Settles $3.7M Case with CFTC

* Former FTX engineering head Nishad Singh settles with CFTC for $3.7 million. * Agreement includes trading bans and acknowledges his cooperation with authorities. On April 1, 2026, Cointelegraph reported that Nishad Singh, the former head of engineering at the collapsed cryptocurrency exchange FTX, has settled legal action with the U.S. Commodity Futures Trading Commission (CFTC). As part of the settlement, Singh agreed to pay $3.7 million in disgorgement, which addresses his role in the exchange's failure and the misappropriation of user funds. In addition, Singh consented to a five-year trading ban in CFTC-regulated markets and an eight-year prohibition on registering with the commission. These penalties will restrict his involvement in the financial markets and crypto industry for the foreseeable future. The CFTC confirmed the order resolves its enforcement case against Singh. Authorities credited Singh’s substantial cooperation during the FTX collapse investigation as a key factor in reducing his penalties. Although David Miller, Director of Enforcement at the CFTC, noted the severity of Singh’s actions, he also highlighted the importance of rewarding meaningful assistance in official inquiries. This settlement is one of several legal repercussions Singh has faced since FTX collapsed in November 2022, as the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) also filed charges against him. In a separate case, Singh accepted an eight-year industry ban from the SEC. His cooperation, most notably his testimony against former FTX CEO Sam Bankman-Fried, significantly reduced his legal consequences. As a result, Singh avoided a prison sentence, receiving time served and three years of supervised release. According to CoinMarketCap, FTX Token (FTT) was trading at $0.292 as of 10:08 UTC on April 2, 2026. Its 24-hour trading volume had declined by 3.967%.