Key Takeaways:
- The CFTC awarded $1 million to a whistleblower for information leading to enforcement against an unnamed digital asset firm.
- This announcement coincides with a judge’s approval of a $12.7 billion settlement involving FTX, Alameda Research, and the CFTC.
- Digital asset cases represented nearly half of the CFTC’s docket in the last fiscal year, highlighting the agency’s focus on unlawful conduct in the market.
The CFTC has announced a $1 million reward for a whistleblower who provided information leading to enforcement action against an unnamed digital asset firm.
This action coincides with a judge approving a $12.7 billion settlement involving FTX, Alameda Research, and the CFTC.
.@CFTC Awards Over $1 Million to Whistleblower Who Aided a Digital Assets-Related Investigation: https://t.co/xPC1wjUy4w
— CFTC (@CFTC) August 8, 2024
The CFTC emphasized the importance of identifying unlawful conduct in the digital asset market, as digital asset cases made up nearly half of its docket in the last fiscal year.
Out of six individuals who initially sought to provide information, only one was awarded a portion of the monetary sanctions for offering specific, credible, and timely information.
The CFTC allows whistleblowers to receive between 10% and 30% of the sanctions collected.
The identity of the implicated crypto firm remains undisclosed.
The announcement also noted the CFTC‘s involvement in a $4.3 billion settlement with Binance in November 2023.
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