Internet reports that the U.S. Securities and Exchange Commission set a new record for penalties and fines for enforcement actions in fiscal year 2024, mainly due to a huge settlement with cryptocurrency company Terraform Labs. In its annual report on November 22, the agency said that in the year ended September 30, although the number of cases fell 26% from last year to 583, the agency's net financial remedies reached $8.2 billion,"the highest amount in the history of the Securities and Exchange Commission." More than half of the total came from the U.S. Securities and Exchange Commission's court victory against Terraform and former CEO Do Kwon, who was found guilty of fraud in 2022 after the collapse of the blockchain ecosystem caused billions of dollars in losses and paid a $4.47 billion settlement.