Cryptocurrency crimes surge 4x as crypto-related SEC litigations boom in Q3
After a slow start in 2024, the SEC significantly ramped up its cryptocurrency-related litigation in the third quarter (Q3) of the year. Finbold Research found that, between the start of July and the end of September, the number of cases involving cryptocurrencies increased fourfold compared to Q2 2024. Additionally, half of all digital assets cases brought forth by the SEC were in Q3, and September alone featured more total litigation releases than the entire first quarter. In fact, while Q1 saw only 6 digital asset cases and the April-to-June trimester only 3, the Commission brought forth 12 cryptocurrency complaints and announcements, including the conclusion of the complaint against the FTX auditor, Prager Metis CPAs, LLC. SEC settles with auditor who failed to spot FTX-Alameda risks By October 2024, the Prager Metis case had become particularly relevant, considering both the impact the company’s failures had on FTX users and the recen...