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SEC Enforcement of Cryptocurrency Dropped 30% in the Last Year of the Gensler Administration

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Enforcement during Gensler administration was considerably higher than during the previous administration

WASHINGTON, Jan. 23, 2025 /PRNewswire-PRWeb/ — The Securities and Exchange Commission (SEC) brought 33 cryptocurrency-related enforcement actions in 2024, the last year of the Chair Gary Gensler’s administration, according to a Cornerstone Research report released today. This number is 30% lower than the high reached in 2023 and marks the first year-over-year decline since 2021.

The report, SEC Cryptocurrency Enforcement: 2024 Update, found that, of the 33 enforcement actions, half were brought in September and October, ahead of the presidential election in early November. The SEC brought 25 litigations in U.S. district courts and eight administrative proceedings in 2024. Compared to 2023, the number of litigations slightly decreased, while administrative proceedings declined by more than 50%. Monetary penalties imposed reached a record high of $4.98 billion, largely attributable to one multi-billion-dollar settlement.

“The SEC has continued to focus on its implementation of the Howey test,” said Abe Chernin, a Cornerstone Research vice president and cohead of the firm’s FinTech practice. “In 2024, the SEC also concentrated on enforcement actions alleging market manipulation or failures to register as a broker-dealer.”

The report also compares the Gensler administration to that of Jay Clayton, the SEC chair during the first Trump administration (May 4, 2017–December 23, 2020). Under Chair Gensler (April 17, 2021–December 31, 2024), the SEC initiated 125 cryptocurrency-related enforcement actions, compared to 70 under Chair Clayton. Of those, Chair Gensler resolved 98 while Chair Clayton resolved 50. The Gensler administration imposed $6.05 billion in monetary penalties, nearly four times the $1.52 billion imposed under Chair Clayton.

“Despite the drop in number of enforcement actions in 2024, cryptocurrency remained a top priority during Chair Gensler’s final year,” said Simona Mola, the report’s author and a principal at Cornerstone Research. “Since 2018, cryptocurrency has represented, on average, approximately 6% of the SEC’s overall enforcement efforts in terms of actions initiated. We will be watching how enforcement may change in 2025, in light of the SEC’s recently announced crypto task force.”

The analysis further found that 66% of all enforcement actions brought under Chair Gensler contained allegations of fraud, compared to 54% of actions brought under Chair Clayton. Conversely, 71% of Clayton administration actions contained unregistered securities offering violations, compared to 63% during the Gensler administration.

Additional Highlights

Of all 2024 cryptocurrency-related SEC actions, 73% alleged fraud, while 58% alleged an unregistered securities offering violation, and 39% alleged both.Fourteen actions alleged market manipulation or failure to register as a broker-dealer, an increase compared to prior years.Eight enforcement actions were related to initial coin offerings (ICOs), and one was related to nonfungible tokens (NFTs).The SEC charged 90 defendants—57 individuals and 33 firms—in 2024 enforcement actions. Approximately 21% of actions were against individuals only, down from 36% in 2023.The SEC continued to recognize self-reporting, cooperation, or remedial efforts of five of the nine respondents charged in administrative proceedings. In one administrative proceeding, the SEC imposed no monetary penalties because of remedial efforts and cooperation.Since 2013, when the SEC brought its first cryptocurrency-related enforcement action, through 2024, the SEC brought 207 enforcement actions, including 135 litigations and 72 administrative proceedings. Of the 207 actions brought since 2013, 47% have been related to ICOs.

Cornerstone Research’s Cryptocurrency Enforcement Database contains cryptocurrency-related enforcement actions brought by the SEC between January 1, 2013, and December 31, 2024.

About Cornerstone Research
Cornerstone Research provides economic and financial consulting and expert testimony in all phases of complex disputes and regulatory investigations. The firm works with an extensive network of prominent academics and industry practitioners to identify the best-qualified expert for each assignment. With a reputation for high quality and effectiveness, Cornerstone Research has consistently delivered rigorous, state-of-the-art analysis since 1989. The firm has more than 1,000 professionals in nine offices across the United States, UK, and EU.

Media Contact

Elisabeth Gaubinger, Cornerstone Research, 202.912.8909, egaubinger@cornerstone.com, https://www.cornerstone.com/

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SOURCE Cornerstone Research

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Chelsea FC announces multi-year sleeve partnership with Sokin, the business payments and FX platform

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Chelsea FC name fast-growing fintech platform as Principal Partner

LONDON, Oct. 23, 2026 /PRNewswire/ — Chelsea Football Club has today announced a multi-year partnership with Sokin, the embedded finance and payments company used by businesses worldwide. Sokin will be named a Principal Partner and Official Business Payments and FX Partner of Chelsea FC and Chelsea FC Women.

As a Principal Partner, Sokin will be represented on the sleeves of the Chelsea FC men’s, women’s and academy home, away, and third kits from the 2026/27 season.

The partnership brings together two ambitious London-headquartered organisations with worldwide reach – a club with millions of fans across the world and a fintech platform through which businesses move more than $11 billion a year. A club of Chelsea’s scale works in many currencies every day, with partners, competitions and supporters around the world, and needs a financial partner built to handle that.

Sokin gives finance teams business payments, multi-currency accounts, foreign exchange, checkout and treasury in one place, so they spend less time juggling banks and providers and keep more of what they move.

As Official Business Payments and FX Partner, Sokin will simplify how Chelsea FC sends, receives and manages money in the currencies the club operates in.

The Sokin logo will feature on the sleeve of the Chelsea shirt for the first time [when the men’s team host Tottenham Hotspur at Stamford Bridge on Saturday 24th October.]

Jason Gannon, President at Chelsea FC said:

“At Chelsea, we seek to partner with organisations that share our ambition and innovative mindset. Sokin’s expertise in business payments, and their focus on making both simpler for the businesses they serve, makes them a natural fit for the Club. We are pleased to welcome Sokin to the Chelsea family and look forward to working together in the years ahead.”

Vroon Modgill, CEO and founder at Sokin said:

“Chelsea plays on the biggest stage in world football, and its business runs in dozens of currencies. Sokin was built for that with regulated, multi-currency payments and foreign exchange for organisations that operate internationally. We’re proud to be the platform behind the business payments and FX of one of the most iconic teams in football. Sokin’s platform serves businesses in more than 170 countries. We’re thrilled to be partners for the season ahead. An organisation as sophisticated as Chelsea doesn’t leave its finances to chance.”

About Sokin

Sokin is the financial layer global business runs on. Businesses can transact, convert and hold money in 70+ currencies across 170+ countries. Some businesses use Sokin to manage global finance in-house. Others build it into their products to power financial experiences for their customers. Businesses move more than $9 billion a year on licenses Sokin holds in 36+ countries and infrastructure Sokin owns. Founded in 2019, Sokin has raised over $100 million from investors including Morgan Stanley Expansion Capital and Prysm Capital.

About Chelsea Football Club

Chelsea Football Club is one of the biggest, most successful football clubs globally and our men’s team are reigning world champions, having won the four-yearly FIFA Club World Cup in 2025. Our women’s team, Chelsea Women, are also multiple trophy winners.

Founded in 1905, Chelsea is London’s most central football club, based at the iconic 40,000-capacity Stamford Bridge stadium. Nicknamed the Blues, the club lifted the Champions League for the first time in 2012 and domestically has won the Premier League five times, the FA Cup eight times, the Football League Cup five times and the Football League Championship once, in 1955.

The Chelsea Women’s team have enjoyed a huge amount of success and in 2025 won the FA Women’s Super League for a sixth consecutive year and the eighth time overall. The Women’s FA Cup has been won on six occasions. We have also captured the FA Women’s League Cup four times as well as reaching the UEFA Women’s Champions League final in 2021. In two seasons, 2020/21 and 2024/25, a domestic treble of trophies was secured.

The Chelsea Foundation boasts one of the most extensive community initiatives in sport, helping to improve the lives of children and young people all over the world.

Media Contacts:

Taina Biggs
taina.biggs@sokin.com 

Nerissa Chesterfield
nerissa.chesterfield@chelseafc.com 

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Amy Johnson Appointed President of GDIT

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RESTON, Va., Oct. 23, 2026 /PRNewswire/ — General Dynamics (NYSE:GD) announced today that Amy Johnson has been appointed as president of GDIT, effective November 3.

Johnson is a 27-year veteran of General Dynamics Mission Systems, where she held increasingly senior roles in engineering, engineering management and business leadership across cybersecurity, defense electronics, space and intelligence systems, most recently as vice president and general manager for Space, Cyber and Intelligence. She earned bachelor’s and master’s degrees in computer science and computer systems engineering. 

“Amy has a proven track record of leading teams to solve complex and highly technical challenges for our customers,” said Phebe Novakovic, CEO of General Dynamics. “I am confident that her dynamic leadership, operational rigor and deep commitment to our values and culture will deliver value to our customers, employees and shareholders.”

GDIT delivers digital modernization, cloud computing, artificial intelligence, cybersecurity and software development solutions to the U.S. federal government, defense, intelligence agencies and other customers. It is a business unit of General Dynamics, a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 120,000 people worldwide and generated $52.6 billion in revenue in 2025. More information is available at gd.com.

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Yazan Al Homsi Invests US$500,000 in Toronto Drone Maker Arcanus Aerial Systems

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Private investment comes as Arcanus builds out Canadian manufacturing capacity for autonomous aerial systems

DUBAI, UAE, Oct. 23, 2026 /PRNewswire/ — Yazan Al Homsi, a UAE-based investor and managing partner of Catalyst Communications DMCC, has invested US$500,000 in Arcanus Aerial Systems Inc., a Toronto-headquartered developer and manufacturer of unmanned aerial systems for defence, public safety and critical infrastructure customers. Al Homsi is an investor only and holds no operational, advisory or board role with the company. Other terms were not disclosed.

Arcanus is a Canadian-controlled company. It currently lists more than 15 platforms across heavy-lift, intelligence, surveillance and reconnaissance (ISR), cargo, strike and counter-drone missions. According to the company, its published line-up includes:

AB 516e: a long-endurance vertical take-off fixed-wing aircraft rated for three hours of flight.AE 401: a counter-drone interceptor with a top speed of 300 km/h.AC 5250: a cargo platform with a 250 kg payload and a range of more than 2,300 km.

Alongside defence, Arcanus markets its systems for wildfire detection, search and rescue, Arctic sovereignty, border and maritime patrol, and pipeline and power line monitoring.

The company has spent 2026 assembling its domestic production base. In April, Arcanus signed a binding term sheet with Portugal-based Beyond Vision, granting it rights to manufacture, commercialize and support Beyond Vision’s unmanned aerial systems in Canada.

In June, Arcanus announced a five-year agreement appointing FeralX Systems Inc. as a non-exclusive Canadian contract manufacturer for several of its platforms.

“Canada has the engineering talent to build these systems at home, and recent years have shown how much depends on having that capacity domestically,” said Yazan Al Homsi. “What stood out to me about Arcanus was the manufacturing groundwork already in place: licensing, a production partner, and a range of aircraft that serves wildfire crews and search-and-rescue teams alongside defence customers.”

About Yazan Al Homsi

Yazan Al Homsi is a UAE-based investor and managing partner of Catalyst Communications DMCC, which he founded in Dubai in 2018. He was previously based in Vancouver, where he founded Founders Round Capital in 2017 and built a track record of investments in early-stage and small-cap companies. He earned a finance degree from McGill University in 2004 and holds the Chartered Financial Analyst designation. Before turning to investing, he spent more than a decade with PricewaterhouseCoopers in the Middle East, rising to director and focusing on transaction due diligence and valuation.

Media Contact
Catalyst Communications DMCC
catalyst-wire@protonmail.com

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