PANews reported on April 2nd that, according to Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) has reached a settlement with Nishad Singh, former engineering director of FTX, requiring him to return $3.7 million in illicit gains, banning him from trading for five years, and prohibiting him from registering with the CFTC for eight years. The CFTC stated that, given Singh's cooperation during the investigation, it did not seek fines or damages. Singh's lawyer stated that his client is relieved that the case has been settled. Singh pleaded guilty to fraud charges in 2023 as part of a settlement with federal prosecutors, subsequently avoiding imprisonment, and testified as a key witness against FTX co-founder Sam Bankman-Fried (SBF). SBF is currently serving a 25-year sentence and earlier this year requested a retrial.