Crypto:
32205
Bitcoin:
$87.259
% 3.62
BTC Dominance:
%59.4
% 0.58
Market Cap:
$2.92 T
% 1.15
Fear & Greed:
88 / 100
Bitcoin:
$ 87.259
BTC Dominance:
% 59.4
Market Cap:
$2.92 T

US Regulators to Raise $19 Billion Through Crypto Lawsuit Settlements in 2024

Biden Crypto

In 2024, regulators in the US collected over $19 billion in lawsuit settlements from crypto companies, roughly two-thirds of the $31.92 billion total over the past five years. In particular, the $12.7 billion settlement that FTX and its affiliated trading firm Alameda paid to the US Commodity Exchange and Futures Trading Commission (CFTC) in August accounted for the bulk of this amount.

Crypto

In 2024, eight separate settlements saw regulators collect 78% more payments than the $10.87 billion collected in 2023. This represents a massive 8,327% increase over 2022. These settlements include forfeitures, restitution, civil penalties, and interest, but do not include lawsuits against individual executives.

Might interest you: What is BabyDoge?

According to CoinGecko’s research, the collapses of Celsius and Terraform Labs have led to increased regulatory pressure following the TerraUSD (UST) crisis in 2022. Terraform Labs closed the second-largest deal in 2024 with a $4.47 billion settlement with the SEC, while Genesis came in third with a $2 billion settlement with the Department of Justice in August.

Crypto1

Binance’s 2023 deal is considered a significant win as it is the only multi-billion dollar deal awarded to an operating crypto company. Binance had previously agreed with US regulators to resolve various lawsuits, including money laundering charges.

Although 2024 is not over yet, this year’s deal amounts have already surpassed 2023 by 78.9%, with more deals expected to happen by the end of the year.


You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

Rate this post
READ:  Solana Memecoin Mania!

Leave a Reply

Your email address will not be published. Required fields are marked *