U.S. authorities collect over $19B from crypto settlements in 2024, up 78% from last year

In 2024, U.S. regulators have collected over $19 billion from cryptocurrency companies through eight lawsuit settlements, according to Cointelegraph which cited a report from CoinGecko dated Oct. 9. This amount represents a 78% increase from the $10.87 billion settled in 2023. The bulk of this year's settlements came from the bankrupt crypto exchange FTX and its affiliated trading firm Alameda Research, which contributed $12.7 billion to the total in an August settlement with the Commodity and Futures Trading Commission (CFTC). The second-largest amount was $4.47 billion paid by Terraform Labs to the Securities and Exchange Commission (SEC) for the 2022 collapse of its algorithmic stablecoin TerraUSD (UST).