Bloomberg: CFTC fines and relief amounts for fiscal year 2024 reach a record high, primarily from crypto companies like FTX

ChainCatcher news, according to Bloomberg, the fines and investor relief obtained by the U.S. CFTC reached a record $17.1 billion, largely due to the agency's crackdown on FTX. Most of the fines and relief for the fiscal year 2024 are related to FTX and its sister hedge fund Alameda Research, leading to over $8.7 billion in compensation and $4 billion in illegal gains, the highest in CFTC history.

The regulatory agency also ordered a $2.85 billion fine and relief against Binance and its founder Changpeng Zhao to settle allegations of operating an illegal digital asset derivatives exchange. In October, the agency took action for the first time against the voluntary carbon credit market, accusing former CQC Impact Investors CEO of falsifying data to obtain carbon credits.

CFTC Enforcement Director Ian McGinley stated in a release, "This year, we have seen large-scale, complex cases and settlements in both our traditional markets and increasingly important areas like the voluntary carbon market. We are committed to prioritizing strong, effective, and targeted enforcement to deter future misconduct."