The SEC has set a new record for penalties and fines in fiscal year 2024, collecting $8.2 billion, primarily due to a landmark settlement with Terraform Labs amounting to nearly $4.5 billion. This sum represents the highest financial remedies recorded in SEC history, despite a 26% drop in the number of cases, totaling 583. The SEC stated that, without the Terraform settlement, its total would have been just $3.72 billion, marking its lowest earnings since 2013. The overall fines and penalties for 2024 increased by 65.5% from 2023, comprising $2.1 billion in penalties and a record $6.1 billion in disgorgement of illicit profits. Outgoing SEC Chair Gary Gensler emphasized the commission's commitment to accountability in the marketplace. The SEC's actions against crypto companies have continued under Gensler, with an overall total of 46 crypto-related enforcement actions, though actual cases dropped to 11 in 2024. As Donald Trump prepares for his presidency, there are expectations within the crypto industry for a potential easing of regulatory oversight following Gensler's tenure.

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