The total amount involved in the list alone has exceeded 25 billion dollars.
Article author: 0x9999in1
Source: ME
As the cryptocurrency industry rapidly develops, the regulatory storm has never ceased. From the collapse of FTX to the massive settlement with Binance, a series of well-known exchanges have paid a heavy price for violating anti-money laundering (AML), KYC regulations, securities laws, or fraudulent activities. ME News has compiled a list of the total amount of regulatory fines in the history of cryptocurrency. The total amount involved in the list alone has exceeded 25 billion dollars. But this is not just a string of cold numbers; it clearly delineates three fates for crypto enterprises: death, rebirth, and solitude.
Fate One: 'Death', its red line lies in 'misappropriation' and 'fraud.'
FTX, Terra, Genesis occupy the top of the list and also the graveyard of the industry. Their commonality lies in the fact that when the regulatory stick falls, people find that it is either a Ponzi scheme or the misappropriation of user funds. For such companies, the regulatory judgment is not a 'fine,' but a 'coroner's report.'
Fate Two: 'Rebirth', the cost is an expensive 'toll fee.'
OKX, KuCoin, BitMEX. These giants, which once wandered in the gray area, ultimately chose to sever their ties for survival. The fines they paid, although amounting to hundreds of millions of dollars, resulted in a transformation from 'offshore wilds' to 'compliant regular forces.'
Fate Three: Exclusively belongs to Binance, it is the only 'outlier' on the list.
Binance ranks in the 'destruction-level' tier with a real fine of 4.3 billion dollars, yet still firmly sits at the top of the industry. As long as it has 100% solvency and does not touch the red line of user funds, it is impossible to topple a giant exchange with real profitability.
