cryptojournalist
SEC’s Biggest Year Yet
In 2024, the SEC brought in $8.2 billion in fines and penalties, its highest amount ever. This was largely due to a $4.5 billion settlement with Terraform Labs after its blockchain collapse. Without this, the SEC’s total would have been $3.72 billion—its lowest in over a decade.
Terraform’s Massive Penalty
Terraform Labs and its CEO, Do Kwon, faced one of the largest fraud cases in crypto history after their 2022 collapse caused billions in losses. The company settled for $4.47 billion, contributing heavily to the SEC’s record year.
Crackdown on Crypto
While the SEC only brought 11 crypto-related cases in 2024—down from 46 in 2023—the penalties were far larger, rising over 3,000% because of Terraform. Under Chair Gary Gensler, the agency has taken a strict approach to regulating crypto.
With Gensler stepping down in early 2025, many expect regulatory enforcement to ease under Trump’s administration. Industry leaders hope ongoing crypto lawsuits will quietly disappear.
