Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Ether could extend rally if it closes above $3k resistance; check forecast

13/07/2025

Altcoin Investors Are Switching to Crypto Stocks Amid US-China Deal

13/07/2025

TON Foundation clarifies that there is no official Golden Visa program

13/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Gold and Bitcoin Likely Going to the Moon Until This Happens, According to Investor Luke Gromen

    13/07/2025

    Bulls Eye $112K as Market Holds $107K Support

    13/07/2025

    Bitcoin Rises Above The Breakthrough Level Of $109,590

    13/07/2025

    Bitcoin Drops Below $107.5K as Trump Tariff Threat Triggers Crypto Sell-Off

    13/07/2025

    Ether could extend rally if it closes above $3k resistance; check forecast

    13/07/2025

    Ethereum Price Breaks $3,000 as Crypto Market Rallies with Bitcoin

    13/07/2025

    Here Are Analysts’ Top Picks

    13/07/2025

    Ethereum futures volume surpasses Bitcoin for first time amid 5 month high

    13/07/2025

    TON Foundation clarifies that there is no official Golden Visa program

    13/07/2025

    Tether Extends Dominance in $259.17B Stablecoin Market as Turnover Highlights Shifting Utility Trends

    13/07/2025

    ‘Altcoin ETF Summer’ in the Works – A Look at the New SEC Guidance

    13/07/2025

    $89 Million in Solana (SOL) Dumped at Once, What Happened?

    13/07/2025

    Volume Plunges While Transactions Soar

    11/07/2025

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    10/07/2025

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    10/07/2025

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    09/07/2025

    Ether could extend rally if it closes above $3k resistance; check forecast

    13/07/2025

    Altcoin Investors Are Switching to Crypto Stocks Amid US-China Deal

    13/07/2025

    TON Foundation clarifies that there is no official Golden Visa program

    13/07/2025

    Ethereum Price Breaks $3,000 as Crypto Market Rallies with Bitcoin

    13/07/2025
  • Blockchain

    Bullish is migrating its entire trading, custody, and settlement infrastructure to Solana

    13/07/2025

    Stability World AI Joins Forces with BearFAI to Revolutionize AI Utility Across Web3

    13/07/2025

    Logic Meets Modularity in this Big Partnership

    13/07/2025

    Band Protocol Unveils V3, A New Era of Multichain and Lightning-fast Data for Web3

    13/07/2025

    All Franklin Templeton products will one day be onchain, exec says

    12/07/2025
  • DeFi

    Nasdaq-Listed Firm Secures $200M in Financing, with Over $150M Tied to Solana Treasury Strategy

    12/07/2025

    TaskOn Partners DEXTools to Bolster Web3 Community Participation

    12/07/2025

    InceptionLRT is shutting down just six months after raising $3.5 million in seed funding

    12/07/2025

    Aave gains 18% weekly amid ecosystem growth, stablecoin dominance

    12/07/2025

    Plume Launches SkyLink on TRON to Enable Real-World Asset Yields

    11/07/2025
  • Metaverse

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025

    Apple’s Top AI Exec Leaves For Meta Amid Aggressive Hiring Trend

    08/07/2025

    Automobili Lamborghini Unveils Digital Temerario and GT3 NFTs in Wilder World

    07/07/2025

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025
  • Regulation

    Altcoin Investors Are Switching to Crypto Stocks Amid US-China Deal

    13/07/2025

    Lawmaker Seeks Crypto ETFs Under Capital Markets Act

    13/07/2025

    How tokenization’s ‘superpowers’ could transform US stock access

    13/07/2025

    Copycat Lawsuits for Bitcoin Giant Strategy, Coinbase Hits All-Time High

    13/07/2025

    Crypto stocks dipped while power generation stocks were up

    13/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Coinbase Lists 4 New Cryptocurrencies After Securing License in New York

    12/07/2025

    Cumberland Unveils Massive 13,100 ETH Withdrawal from Binance

    12/07/2025

    Robinhood Says OpenAI Stock Tokens Backed by Special Purpose Vehicle

    12/07/2025

    Aevo unveils platform offering 1000x leverage on select stocks like MSTR and CRCL

    12/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Qitmeer Network Forges Partnership with Onmi to Bolster Web3 GameFi Space

    13/07/2025

    Why Are So Many Crypto Games Shutting Down? Experts Weigh In

    12/07/2025

    The Real Lifestyle and WILDGO Partner to Transform Tokenized Real Estate

    12/07/2025

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    10/07/2025

    Q3 Bitcoin Mining Map Exposes Silent Surge in Russia, China, While US Dips Slightly

    13/07/2025

    Another BTC Mining Firm Moves Into Ethereum Reserve, Hailing ETH as ‘Digital Gold’

    13/07/2025

    CKpool rolls out low-latency pool after solo miner racks up 3.175 BTC reward

    13/07/2025

    CoreWeave Fusion Dance, $1 Billion Day for Bitcoin ETFs and Strategy’s Bye Week

    12/07/2025

    Crypto traders ‘talking to lawyers’ over Polymarket’s Zelenskyy suit bet

    12/07/2025

    US Senate targets Bukele’s El Salvador, bill calls to sanction BTC strategy

    12/07/2025

    Tornado Cash Judge Won’t Let One Case Be Mentioned in Roman Storm’s Trial: Here’s Why

    12/07/2025

    Trump Ally Compares Crypto Industry Writing Its Own Rules to Spilled ‘Urine Sample’

    12/07/2025

    Ether could extend rally if it closes above $3k resistance; check forecast

    13/07/2025

    Altcoin Investors Are Switching to Crypto Stocks Amid US-China Deal

    13/07/2025

    TON Foundation clarifies that there is no official Golden Visa program

    13/07/2025

    Ethereum Price Breaks $3,000 as Crypto Market Rallies with Bitcoin

    13/07/2025
  • MarketCap
NBTC News
Home»Legal»SEC case against Terraform Labs lead account for over 50% of its record year financial remedies
Legal

SEC case against Terraform Labs lead account for over 50% of its record year financial remedies

NBTCBy NBTC24/11/2024No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The Securities Exchange Commission (SEC) obtained orders for $8.2 billion in remedies for the 2024 fiscal year, a record high for the regulatory agency. This is a 67% increase from the $4.9 billion in financial penalties that it collected in 2023.

According to the official press release, the regulator filed 583 enforcement actions during the year, a 23% decline from the previous year. Most enforcement actions (431) were stand-alone, while 93 were follow-on administrative proceedings based on civil injunctions, orders, and criminal prosecutions. 59 enforcement actions targeted issuers who did not make their compulsory filings on time.

The massive increase in financial remedies, despite the decline in enforcement action, owes much to SEC enforcement action against crypto entities, particularly Terraform Labs (TFL) and its co-founder Do Kwon. In this case, TFL settled charges for $4.5 billion, while SEC also got an order against Kwon to pay $200 million in penalties.

Speaking on this, SEC Chair Gary Gensler noted that the SEC’s proactiveness enabled it to pursue wrongdoers and protect investors.

Gensler said:

“The Division of Enforcement is a steadfast cop on the beat, following the facts and the law wherever they lead to hold wrongdoers accountable. As demonstrated by this year’s results, the Division helps promote the integrity of our capital markets to benefit investors and issuers alike.”

Beyond the financial remedies, 2024 was also a record year in terms of complaints and reports, with the SEC receiving 45,130 tips, complaints, and referrals, the highest number ever. The regulator also obtained orders banning 124 individuals from serving as officers or directors of public companies, the second-highest number in a decade, and distributed $345 million to harmed investors.

50% of SEC major fraud cases were crypto-related

Meanwhile, two of the four major fraud cases that the SEC charged in 2024 involved digital assets. One is the Hyperfund crypto asset pyramid scheme, which raised over $1.7 billion from investors globally. SEC claimed that it had charged two individuals, Xue Lee, aka Sam Lee, and Brenda Chunga, aka Bitcoin Beautee, for their involvement in the scam.

The regulator also charged NovaTech Ltd and its founders, Cynthia and Eddy Pention, for a multilevel marketing and crypto scheme that raised over $650 million from more than 200,000 investors globally. Other promoters of the scheme were charged alongside the two for their involvement.

Beyond these two cases, the agency noted that emerging technologies pose major risks for fraudulent activities, highlighting how bad actors used everything from artificial intelligence to fake crypto platforms to defraud victims. It specifically mentioned Silvergate Bank and Barnbrige DAO, noting that it settled charges against the two.

Will the SEC recover the $4.5 billion from Terraform Labs?

Despite the TFL judgment accounting for about 56% of the SEC financial remedies for 2024, the regulator is unlikely to get any of the funds. TFL is also bankrupt and has the court’s go-ahead to wind down. There are no signs that the company, which is behind one of the biggest financial collapses ever, has the funds to pay off the losses to investors and penalties to regulators. The SEC also agreed to be paid only after the company satisfies all claims in its bankruptcy winddown.

Several of the Terra mainnet services have already been shut down, including the Shuttle Bridge interface, which the company closed in early November, burning all the tokens in the Shuttle Bridge wallets. The team also plans to shut down Enterprise DAO and Warp Protocol, two Cosmos-based DeFi protocols powered by Terra, by December 31, 2024.

Meanwhile, retail investors who lost billions to the UST and LUNA collapse continue to hope for a community-led revival. Terra Luna Classic (LUNC) ‘s community on Discord recently approved a proposal to transfer the CoinMarketCap dashboard account access for the token to Allnodes, the top validator of Terra Classic’s mainnet.

However, they voted overwhelmingly against a proposal by Cosmos-based developer team BLV Labs asking the community to approve $5,000 in LUNC for its work on the Terra Classic blockchain. The developer worked on the use Oracle module to calculate and update the minimum deposit required for creating a governance proposal. According to the community, the developer has not deployed the feature on the testnet and mainnet and must finish the work to get paid.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Crypto traders ‘talking to lawyers’ over Polymarket’s Zelenskyy suit bet

12/07/2025

US Senate targets Bukele’s El Salvador, bill calls to sanction BTC strategy

12/07/2025

Tornado Cash Judge Won’t Let One Case Be Mentioned in Roman Storm’s Trial: Here’s Why

12/07/2025

Trump Ally Compares Crypto Industry Writing Its Own Rules to Spilled ‘Urine Sample’

12/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Ether could extend rally if it closes above $3k resistance; check forecast

13/07/2025

Altcoin Investors Are Switching to Crypto Stocks Amid US-China Deal

13/07/2025

TON Foundation clarifies that there is no official Golden Visa program

13/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.