DOJ to announce ‘significant’ crypto enforcements alongside CFTC, Treasury

It’s unclear what “actions” the CFTC, DOJ and Treasury will announce Tuesday afternoon


US Treasury Secretary Janet Yellen | Alexandros Michailidis/Shutterstock modified by Blockworks


The Department of Justice will announce “significant cryptocurrency enforcement actions” during an upcoming press conference Tuesday afternoon. 

Alongside Attorney General Merrick Garland, Treasury Secretary Janet Yellen, Deputy Attorney General Lisa Monaco and CFTC Chair Rostin Behnam are all expected to speak. 

The conference will “announce separate but related cryptocurrency enforcement actions.”

It’s unclear what kind of enforcement action will be announced, though — as reported by Blockworks on Monday — the Justice Department and Binance have been working toward a multibillion-dollar settlement that would prevent an FTX-like crash. 

The DOJ has investigated Binance for a few years, and people familiar claim that the settlement could be between $4 billion to $5 billion. It would allow Binance to continue operating and give law enforcement access to its database. 

However, the press conference may not be related to Binance, as the DOJ announced this morning that it also seized $9 million of Tether from a scam operation exploiting victims through “romance scams and cryptocurrency confidence scams.”

Tether, on Monday, said it froze $225 million in USDT after it collaborated with a DOJ investigation that also included the US Secret Service and OKX.

The funds, Tether claimed, were linked to a Southeast Asia-based human trafficking ring “responsible for a global ‘pig-butchering’ romance scam.”

The DOJ also has not been the only government entity active in targeting cryptocurrency companies this week. Late Monday, the Securities and Exchange Commission filed a suit against crypto exchange Kraken’s parent companies. 

No high-ranking official from the SEC will be present at Tuesday’s press conference.

The suit alleges that Kraken commingled customer funds and failed to register as an exchange.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

recent research

Pyth Cover.jpg


Pyth is a low latency pull-based oracle. In a future that looks increasingly high frequency, with various alt L1s and L2s that have significantly shorter block times than Ethereum, and an explosion of “high-frequency” protocols such as oracle or CLOB perp DEXs, Pyth’s low latency oracle product looks much better positioned to capture a significant amount of market share in comparison to competitors.


Some 18,000 accounts have already sent $27 million in crypto to a one-way bridge controlled by a Blast multisig


Telegram bots have seen a cumulative trading volume of over $4 billion


Avalanche has been inundated with transactions for inscriptions, similar to the Ordinals that already hit Bitcoin, Litecoin and Dogecoin


Like much of the tech world, crypto’s use of ChatGPT has been growing. Despite founder Sam Altman’s ouster, decentralized AI projects don’t seem ready to replace it


The allegations came in a new lawsuit filed by the US securities regulator on Monday


“Change in behavior might actually result in a change of outcome,” 21Shares president says in Bloomberg TV interview