Golden Finance reported that in 2024, the U.S. Securities and Exchange Commission implemented enforcement actions worth nearly $4.7 billion against cryptocurrency companies and their executives, an increase of more than 3,000% from 2023. According to a report by Social Capital Markets on September 9, the SEC's record this year was mainly due to its huge $4.47 billion settlement agreement with Terraform Labs and its former CEO Do Kwon in June, which was its "largest enforcement action to date." The regulator took 11 enforcement actions in 2024, and although the number of actions against cryptocurrency companies decreased by 19, the amount of fines increased by 3,018% from last year's $150.3 million.