In 2024, the Commodity Futures Trading Commission (CFTC) secured more than $17.1 billion in penalties, restitution, and disgorgement. This unprecedented figure includes $2.6 billion in civil monetary penalties and $14.5 billion in disgorgement and restitution amid heightened focus on enforcement within both traditional and emerging markets.

Notably, the agency's actions in digital asset commodities reportedly contributed to the new record. The CFTC's actions in the digital asset sector were particularly notable, marking some of the largest cases in its history.

Digital Asset Cases

Among the most significant cases was the $12.7 billion settlement with FTX and Alameda Research, which included $8.7 billion in restitution and $4 billion in disgorgement.

This landmark case was the largest recovery for victims and the most substantial penalty ever imposed by the CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term. The Commission also secured hefty penalties in cases involving Binance and its founder, Changpeng Zhao, alongside former executives like Samuel Lim.

Binance was ordered to pay a staggering $1.35 billion in civil monetary penalties and an additional $1.35 billion in disgorgement. The enforcement agency also moved aggressively in decentralized finance (DeFi) and fraud cases linked to crypto markets.

.@CFTC brought 58 new actions in fiscal year 2024 and had record monetary relief of over $17.1 billion, which included $2.6 billion in civil monetary penalties and $14.5 billion in disgorgement and restitution: https://t.co/2En5bCBihP pic.twitter.com/g4TMB234qj

— CFTC (@CFTC) December 4, 2024

Commenting on the enforcement actions, the regulator's Chairman, Rostin Behnam, said: “The CFTC remains steadfast in its duties to protect customers and vigorously oversee CFTC-regulated markets critical to the health of the U.S. economy.”

“Misconduct in our jurisdictional markets is rarely confined, especially as these boundaries are continually being redefined by disruptive technology,” he continued. “I commend our Division of Enforcement for remaining thoughtful and agile in its response to evolving markets and a growing pool of participants.”

In FY 2024, the CFTC's focus on market manipulation extended beyond digital assets. The agency pursued a series of cases targeting deceptive practices across various commodity markets, including gasoline, fuel oil, and even voluntary carbon credits.

Other Sectors

In one of the most high-profile actions, the CFTC filed fraud charges against CQC Impact Investors LLC, a carbon credit developer, for reportedly submitting false data to inflate its carbon credit allocations and boost revenues.

The CFTC's whistleblower program also played a critical role in its enforcement successes. The agency issued a record number of awards, totaling over $42 million, reflecting the growing importance of insider tips in uncovering market misconduct.

Since 2014, the program has helped the CFTC secure more than $3.2 billion in monetary relief through actions linked to whistleblower information. The CFTC's record enforcement year in FY 2024 showcases its unwavering commitment to safeguarding US markets.