A large part of this amount was obtained as a result of the audits and practices carried out in the cryptocurrency markets. According to data announced on December 5, $2.6 billion of this record amount was recorded as civil fines (CMP) and $14.5 billion was recorded as refunds and compensation.

This high amount was obtained especially from legal proceedings against the crypto exchange FTX, which went bankrupt in 2022.

The collapse of FTX had a huge impact on the entire cryptocurrency market. Sam Bankman-Fried, the owner of the FTX exchange, and some executives led by him, including Alameda Research, faced major fraud allegations.

The CFTC awarded a total of $12.7 billion in damages and restitution from the FTX case, the largest recovery in the agency’s history.

Bankman-Fried was sentenced to 25 years in prison in March. However, the CFTC’s lawsuit against FTX is still ongoing. Legal processes continue against other executives and former partners of FTX.

The CFTC has made much of this year’s recovery from lawsuits and investigations into FTX and other crypto companies. Another prominent case was the lawsuit filed against Binance, a major worldwide exchange.

The CFTC collected a civil penalty of $150 million from Binance founder and former CEO Changpeng Zhao and $1.35 billion from the exchange. The court also ordered Binance to pay $1.35 billion in restitution. The case against Binance was a major turning point in the regulation and supervision of crypto exchanges.

Another of the most important cases carried out by the CFTC recently was filed against Stephen Ehrlich, the former CEO of Voyager Digital. Ehrlich is accused of crypto commodity pool fraud and registration violations.

The court ruled in favor of the CFTC, rejecting Ehrlich’s request to dismiss the case. This case also raised important legal questions in the future, and the results of the case will be an important reference in the regulation of commodity trade.

The CFTC also won the case of Seneca Ventures, which ran a Ponzi-like scam. On charges of fraud involving crypto, derivatives and carbon offset programs, the court awarded the defendants a civil penalty of $110.9 million, damages of $83.7 million and restitution of $36.9 million. The CFTC ensures that the legal process moves quickly to prevent such crimes.

The CFTC also said in a romance scam case that scammers collected $2.3 million in customer funds. This situation once again revealed the need to pay more attention to frauds, especially regarding digital assets and crypto commodity trading.

In his statement, CFTC Chairman Rostin Behnam emphasized the agency’s commitment to its duty to protect customers and stated that strict inspections will continue, especially against new types of crimes shaped by technology. “The CFTC will continue to prevent market abuse and contribute to the health of the U.S. economy,” Behnam said.