The US Securities and Exchange Commission (SEC) reached $8.2 billion in financial remedies in the 2024 fiscal year, even though it filed fewer enforcement cases compared to the previous year. The penalties were driven by high-profile cases, with Terraform Labs' $4.5 billion penalty making up 56% of the total. Terraform Labs and its CEO, Do Kwon, were found liable for defrauding investors during the 2022 Terra/Luna collapse. The SEC also settled with Silvergate Capital for misleading disclosures and charged BarnBridge DAO for failing to register its crypto assets as securities. The SEC distributed $345 million to harmed investors and processed over 45,000 tips and complaints in 2024. Critics argued that large fines may not address underlying systemic issues in financial markets.



Other News from Today