A former auditor for FTX has agreed to pay $1.95 million to settle two U.S. Securities and Exchange Commission (SEC) actions alleging misconduct in its audits of the collapsed exchange after it was accused of not understanding the crypto market. A statement released on September 17 announced that the settlement resolves negligence-based fraud allegations connected to FTX audits, along with separate charges of violating auditor independence regulations. Prager Metis CPAs, LLC & its CA professional services firm, Prager Metis CPAs LLP, agreed to pay $1.95M to resolve 2 actions alleging misconduct in its audits of the now-defunct crypto asset trading platform, FTX, & auditor independence violations.