{"id":18877,"date":"2024-11-25T12:58:15","date_gmt":"2024-11-25T10:58:15","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-collects-8-2-billion-in-a-year-over-half-from-terraform-labs-settlement\/"},"modified":"2024-11-25T12:58:15","modified_gmt":"2024-11-25T10:58:15","slug":"sec-collects-8-2-billion-in-a-year-over-half-from-terraform-labs-settlement","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-collects-8-2-billion-in-a-year-over-half-from-terraform-labs-settlement\/","title":{"rendered":"SEC Collects $8.2 Billion in a Year, Over Half from Terraform Labs Settlement"},"content":{"rendered":"<p>The <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span><a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2024-186\"> secured<\/a> a record $8.2 billion through enforcement actions, with <a href=\"https:\/\/forklog.com\/en\/news\/terraform-labs-fined-4-47-billion-by-sec\">$4.47 billion<\/a> stemming from a settlement with Terraform Labs (TFL).<\/p>\n<p>The regulator collected $2.1 billion in fines and $6.1 billion in payments to affected investors.<\/p>\n<p>Total figures increased by 65.5% compared to the previous year.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1319.webp\" alt=\"1-1319\" class=\"wp-image-246002\"\/><figcaption class=\"wp-element-caption\">Data: SEC.<\/figcaption><\/figure>\n<p>The reported data corresponds to the fiscal year ending on September 30.<\/p>\n<p>The number of cases reviewed during this period decreased by 26%, to 583.<\/p>\n<p>The settlement with the company founded by Do Kwon resulted in &#8220;the largest amount in the agency&#8217;s history.&#8221;<\/p>\n<p>Excluding the TFL fine, the agency received $3.72 billion, the lowest figure since 2013, when it collected $3.4 billion.<\/p>\n<p>On April 5, a jury in the Southern District of New York <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-found-guilty-of-fraud-in-sec-case\">found<\/a> Terraform Labs and Kwon guilty of investor deception and securities fraud.<\/p>\n<p>Initially, the regulator <a href=\"https:\/\/forklog.com\/en\/news\/sec-seeks-5-3-billion-penalty-for-do-kwon-and-terraform-labs\">proposed<\/a> a $5.3 billion penalty for the company and its head. In response, defense attorneys <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.594150\/gov.uscourts.nysd.594150.235.0.pdf\">suggested<\/a> a &#8220;maximum possible&#8221; payment of $3.4 million.<\/p>\n<p>Back in January 2025, current SEC head Gary Gensler <a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2024-182\">will step down<\/a>.<\/p>\n<p>Among the potential candidates for this position are billionaire Mark Cuban, Robinhood&#8217;s <span data-descr=\"Chief Legal Officer\" class=\"old_tooltip\">CLO<\/span> Dan Gallagher, former <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> Chairman Chris Giancarlo, SEC Commissioner Hester Peirce, and former SEC General Counsel Robert Stebbins.<\/p>\n<p>Earlier, 18 U.S. states filed a lawsuit against the SEC, accusing the agency of overstepping its authority and unfairly targeting the crypto industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC secured a record $8.2 billion through enforcement actions, with $4.47 billion stemming from a settlement with Terraform Labs (TFL). The regulator collected $2.1 billion in fines and $6.1 billion in payments to affected investors. Total figures increased by 65.5% compared to the previous year. Data: SEC. The reported data corresponds to the fiscal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,1252,128,852],"class_list":["post-18877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-reports","tag-sec","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18877"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18876"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}