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The US Securities and Exchange Commission (SEC) has imposed nearly $4.7 billion in fines against crypto firms and executives in 2024, marking a 3,000% increase from 2023. This surge in enforcement actions is primarily driven by a $4.47 billion settlement with Terraform Labs and its CEO Do Kwon. Despite fewer enforcement actions compared to the previous year, the SEC's financial penalties have reached unprecedented levels.
SEC has made $4.68bn from crypto firms this year This is the large majority of their income now You want to know why Gary hates crypto? Follow the money. https://t.co/T8HtSabxCA
UPDATE: THE SEC HAS LAUNCHED NEARLY $4.7B IN ENFORCEMENT ACTIONS ON CRYPTO FIRMS AND EXECUTIVES IN 2024—A MASSIVE 3,000% INCREASE FROM 2023 ~ SOCIAL CAPITAL MARKETS REPORT
SEC GOES HARD: $4.7B IN CRYPTO FINES FOR 2024 The SEC is on a major rampage this year, dropping a jaw-dropping $4.7 billion in fines—yeah, that’s a mind-blowing 3,000% jump from last year. The bulk of that comes from the massive $4.47 billion smackdown on Terraform Labs and Do… https://t.co/v0ULKeFQCU
