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FTX’S COLLAPSE CHANGES THE GAME FOR CRYPTO SETTLEMENTS After FTX’s implosion, we’ve seen $32B in penalties across 25 major cases. Regulators are flexing their muscles, and it’s only getting tighter. The $12.7B hit to FTX/Alameda is historic, but Binance’s $4B settlement… https://t.co/pQsXHDKqNO
U.S. GOV CRACKS DOWN HARD ON CRYPTO FIRMS POST-FTX SAGA Since FTX crashed and burned, regulators been stacking up - ordering the recoupment of $32B in penalties from 25 big wins in the US alone. FTX and Alameda got slammed with a $12.7B fine, while Binance took a $4B hit, the… https://t.co/KcMIUY4WzB
Analysis: US regulators have secured $19B+ in eight settlements from crypto firms so far in 2024, including FTX's $12.7B, and ~$32B since January 1, 2019 (@solosbrqt / CoinGecko) https://t.co/oDjzU68dBn 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/76YUqgZTfT
In 2024, U.S. regulators have collected over $19 billion in lawsuit settlements from crypto companies, marking a significant increase from previous years. The majority of these settlements, amounting to $12.7 billion, were paid by the bankrupt crypto exchange FTX and its affiliated trading firm Alameda. According to an October 9 report from CoinGecko, the $12.7 billion was paid to the CFTC in August. This total represents a 78% increase in settlement amounts compared to 2023. The settlements are part of a broader crackdown on the crypto industry, with regulators securing $32 billion in penalties since January 1, 2019, across 25 major cases. The FTX and Alameda settlement is the largest, followed by Binance's $4 billion settlement.