The CFTC has announced a record-breaking $17.1 billion in monetary relief, the majority of which was obtained through enforcement actions against cryptocurrency companies.
The highest fines were obtained from cases involving FTX and Binance, resulting in billions in penalties and restitution charges.
The FTX case, in particular, yielded the largest amount the CFTC has ever recovered, with founder Sam Bankman-Fried ordered to pay $12.7 billion in restitution and disgorgement charges.
Binance also settled for disgorgement charges of $2.7 billion, along with $150 million in civil penalties for its founder and former CEO, Changpeng “CZ” Zhao.
The SEC, another regulatory agency in the US, has racked up $8.2 billion in fines throughout 2024, with a significant portion of $4.6 billion coming from crypto companies in 11 enforcement actions.
