The US Commodity Futures Trading Commission (CFTC) has paid whistleblowers a total of $16 million this year, with the majority of the tips relating to cryptocurrency cases.
The US Commodity Futures Trading Commission (CFTC) has paid whistleblowers a total of $16 million this year, with the majority of the tips relating to cryptocurrency cases. In the statement released, Christy Goldsmith Romero, CFTC Commissioner, emphasized the frequency of fraud and illegality in the cryptocurrency market.
Two whistleblowers alone won $15 million in compensation for their information, which resulted in successful enforcement suits in September. In its statement, the CFTC did not specify the nature of the cases.
Romero highlighted the critical role of whistleblowers in combating commodities fraud, adding that they aid in the detection of fraud, the interpretation of evidence, and the protection of customers. Since the program's launch in 2014, the CFTC has paid out approximately $350 million, resulting in over $3 billion in enforcement sanctions.
This comes as the CFTC recently sued Stephen Ehrlich, the former CEO of the bankrupt crypto lender Voyager Digital.
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