đ¨ Crypto Companies Paid $19,000,000,000 in 2024 SETTLEMENTS Alone!
U.S. regulators have raked in a staggering $19 billion from crypto companies in settlements this year â marking a massive leap compared to previous years. The total amount collected since 2019 now stands at $31.92 billion, with 2024 accounting for two-thirds of it!
Key Players:
- FTX & Alameda top the list, coughing up $12.7 billion to the CFTC in an August settlement.
- Terraform Labs ranks second with a $4.47 billion settlement over the TerraUSD (UST) collapse.
- Genesis follows, settling for $2 billion with the OAG.
This year has seen an 78% spike in settlements compared to 2023, signaling that regulatory pressure is far from easing.
Regulatory Crackdown Intensifies: Crypto regulation hit a boiling point in the last two years, with Celsius, Terraform Labs, and FTXâs implosion acting as catalysts for more aggressive scrutiny. Binanceâs November 2023 settlement also stands out as the only billion-dollar deal made with a company still in operation, underscoring the high stakes of regulatory battles.
Cryptoâs bull-to-bear market shift after major collapses in 2022 triggered this wave of scrutiny and lawsuits. The numbers show how far regulators have stepped up their efforts to police the industry. Is 2024 on track to be the most litigious year in crypto history? All signs point to yes!
What do you think about this situation?
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