CFTC Resolves Case Against Ex-FTX Engineering Chief Singh

Former FTX engineering chief Nishad Singh will have to return $3.7 million in illegal profits under a settlement with the US derivatives regulator over his role at the collapsed cryptocurrency exchange.

Singh will also be banned from trading for five years and prohibited from registering with the regulator for eight years, the Commodity Futures Trading Commission said in a statement on Wednesday. The agency said it didn’t seek a monetary penalty or restitution based on his cooperation in the investigation.