The SEC reported an unprecedented $8.2 billion in fiscal penalties, mainly due to Terraform Labs’ record $4.47 billion settlement.
The United States Securities and Exchange Commission (SEC) broke the record for penalties and fines from its enforcement actions in the fiscal year 2024 amid its substantial settlement with crypto firm Terraform Labs.
In a Nov. 22 annual report, the agency revealed that it had net $8.2 billion in financial remedies by Sept. 30, making this haul the “highest amount” the regulator has ever received.
More than half of the sum came from the regulator’s court case won against Terraform and its former CEO, Do Kwon, who paid a $4.47 billion settlement.
