Deep Tide TechFlow News, on January 2, Coinbase's Vice President of Legal Ryan VanGrack pointed out that over 50% of the SEC's record fine total in 2024 comes from the Terraform case's $4.4 billion, but this fine may be difficult to recover. VanGrack believes that an excessive focus on enforcement data may create misaligned incentives and suggests focusing on the amount returned to harmed investors.

The Wall Street Journal previously reported that the SEC currently has not collected fines amounting to as much as $10 billion, which includes the $62 million (now increased to $180 million with interest) that Paul Bilzerian was fined 31 years ago for securities fraud, highlighting the SEC's limitations in enforcement recovery.