The Commodity Futures Trading Commission (CFTC) secured a record-breaking $17.1 billion in enforcement actions for fiscal year 2024, driven by significant judgments against cryptocurrency entities and groundbreaking settlements in emerging markets such as voluntary carbon credits, the agency announced Wednesday.
This unprecedented total includes $2.6 billion in civil monetary penalties and $14.5 billion in disgorgement and restitution. Highlighted cases included a $12.7 billion judgment against FTX and Alameda Research, the largest recovery in CFTC history, and settlements with J.P. Morgan Securities LLC and Trafigura Trading LLC over regulatory violations.
Crypto Industry Under Fire
The CFTC’s record haul underscores its intensified scrutiny of the cryptocurrency sector, culminating in the August consent order against FTX Trading Ltd. and Alameda Research. The $12.7 billion judgment mandates that $8.7 billion be returned to victims of Sam Bankman-Fried’s failed crypto empire, with an additional $4 billion disgorged as part of fraud-related claims.
