Last year alone, the US regulators secured over $10 billion in settlements.
The Department of Justice and the Treasury are playing a pivotal role in crypto regulation.
The battle between US regulators and crypto companies
has intensified, with nearly $32 billion collected in settlements since 2019, according to a report by CoinGecko. The most significant regulatory action to date has
been against the now-defunct crypto exchange FTX and its trading firm
affiliate, Alameda.
The Commodity and Futures Trading Commission (CFTC) imposed a combined $12.7 billion in penalties on these companies, a
settlement announced in August 2024, nearly two years after FTX’s collapse.
FTX and Binance
Binance, however, stands out as the largest
operational company to face such a steep penalty. In November 2023, the leading
crypto exchange agreed to pay $4.3 billion to settle with several US regulatory
bodies, including the Department of Justice and the Treasury Department.
FTX’s implosion in late 2022 catalyzed a wave of
heightened scrutiny on the crypto industry. In 2023 alone, US regulators
secured $10.87 billion in settlements, a staggering 8,327% increase from the
previous year. But 2024 saw even more aggressive action, with eight major
lawsuits settled, totaling $19.45 billion by October.
Another high-profile case was Celsius's collapse, which led to a $4.7 billion settlement. During the same period, Terraform Labs fell and faced $4.5 billion in penalties.
Crypto Regulations
While the spotlight has been on recent enforcement
actions, regulators began targeting the crypto space well before the FTX collapse.
In 2019, Block.one (now B1), the company behind the EOS token, was fined $24
million by the SEC for selling unregistered securities.
A year later, the SEC secured a $1.24 billion
settlement from Telegram over its Gram token offering, a case that reverberated
throughout the crypto world. Amid the bull market of 2021, Tether, one of the
industry’s most prominent stablecoin issuers, settled for $18.5 million with
the New York Attorney General.
The CFTC also took action against Tether’s parent
company, Bitfinex, for illegal transactions, though that settlement was
significantly smaller at $1.5 million.The Department of Justice and the Treasury Department
have played increasingly prominent roles, targeting not just defunct firms like
FTX but also current industry giants like Binance.
As of October 2024, there have been 25 enforcement
actions with settlements exceeding $10 million, contributing to the nearly $32
billion total.
The battle between US regulators and crypto companies
has intensified, with nearly $32 billion collected in settlements since 2019, according to a report by CoinGecko. The most significant regulatory action to date has
been against the now-defunct crypto exchange FTX and its trading firm
affiliate, Alameda.
The Commodity and Futures Trading Commission (CFTC) imposed a combined $12.7 billion in penalties on these companies, a
settlement announced in August 2024, nearly two years after FTX’s collapse.
FTX and Binance
Binance, however, stands out as the largest
operational company to face such a steep penalty. In November 2023, the leading
crypto exchange agreed to pay $4.3 billion to settle with several US regulatory
bodies, including the Department of Justice and the Treasury Department.
FTX’s implosion in late 2022 catalyzed a wave of
heightened scrutiny on the crypto industry. In 2023 alone, US regulators
secured $10.87 billion in settlements, a staggering 8,327% increase from the
previous year. But 2024 saw even more aggressive action, with eight major
lawsuits settled, totaling $19.45 billion by October.
Another high-profile case was Celsius's collapse, which led to a $4.7 billion settlement. During the same period, Terraform Labs fell and faced $4.5 billion in penalties.
Crypto Regulations
While the spotlight has been on recent enforcement
actions, regulators began targeting the crypto space well before the FTX collapse.
In 2019, Block.one (now B1), the company behind the EOS token, was fined $24
million by the SEC for selling unregistered securities.
A year later, the SEC secured a $1.24 billion
settlement from Telegram over its Gram token offering, a case that reverberated
throughout the crypto world. Amid the bull market of 2021, Tether, one of the
industry’s most prominent stablecoin issuers, settled for $18.5 million with
the New York Attorney General.
The CFTC also took action against Tether’s parent
company, Bitfinex, for illegal transactions, though that settlement was
significantly smaller at $1.5 million.The Department of Justice and the Treasury Department
have played increasingly prominent roles, targeting not just defunct firms like
FTX but also current industry giants like Binance.
As of October 2024, there have been 25 enforcement
actions with settlements exceeding $10 million, contributing to the nearly $32
billion total.
Wall Street Bitcoin Miner's AI Pivot Sparks Investor Lawsuit
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.
Stay tuned for more events. See you next time!
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.
Stay tuned for more events. See you next time!
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!