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In a press release on Aug. 8, the United States Commodity Futures Trading Commission (CFTC) announced rewarding $1 million to a whistleblower who helped take action against a company for “improper trading” in the digital asset market.&nbsp; 
The <a href="https://www.cftc.gov/PressRoom/PressReleases/8939-24" target="_blank" rel="noreferrer noopener nofollow">whistleblower</a>, who remains anonymous, provided crucial information that exposed improper trading by a digital asset firm.&nbsp; 
While the CFTC did not disclose the company’s identity, this enforcement action shows how important whistleblowers are in keeping the digital asset market fair and transparent. 
“Identifying unlawful conduct in the digital asset marketplace is a major priority for the CFTC, especially as everyday Americans are increasingly victimized by digital asset scams,” said Ian McGinley, the CFTC’s enforcement director. He pointed out that almost half of the cases the CFTC handled last year were related to digital assets, showing how much fraud has increased in the crypto industry. 
The $1 million award is part of the CFTC’s Whistleblower Program, which offers a portion of monetary penalties to those who provide credible and timely information.&nbsp; In this case, six people initially provided information, but only one met the criteria to receive the award. Three others withdrew their claims, and two did not provide enough helpful information to contribute to the case. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe-iHQZJsUeR2SpzWhAJEsqrRs4Luvb9TZuqsV5_bRCcEuTscrihVycf5sq7i3SxUNziXgUH6C1v8Xrc_oCxJf7r3JlFsRMJmD6H2CJwLYc1DN9szUuhIO_5axtTiZT4tQu-4ZQg1OiqpPKYP5FBexUgixu?key=RWJFlHUugNnIECrlpgOPAg" alt="AD 4nXe iHQZJsUeR2SpzWhAJEsqrRs4Luvb9TZuqsV5 bRCcEuTscrihVycf5sq7i3SxUNziXgUH6C1v8Xrc oCxJf7r3JlFsRMJmD6H2CJwLYc1DN9szUuhIO 5axtTiZT4tQu">
 <figcaption class="wp-element-caption">
 CFTC Whistleblower Program | Image Source: <a href="http://whistleblower.gov" target="_blank" rel="noreferrer noopener nofollow">Whistleblower.gov</a>
 </figcaption>
</figure> 
This announcement comes at a time when the CFTC is dealing with other major cases in the crypto world, including a <a href="https://www.cryptotimes.io/2024/08/08/new-york-judge-approves-12-7b-ftx-alameda-settlement/" target="_blank" rel="noreferrer noopener">$12.7 billion settlement</a> involving the FTX exchange and Alameda Research. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/08/35m-from-nomad-bridge-hack-sent-to-tornado-cash/" target="_blank" rel="noreferrer noopener">$35M from Nomad Bridge Hack Sent to Tornado Cash</a> 
</blockquote>

CFTC Awards $1M to Crypto Whistleblower

The Crypto Times

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