# During the 2021 bull run

By [Untitled](https://paragraph.com/@0xd20dfd4e2a5e61cf359ea1cb6fece82f752d6ecc) · 2024-10-11

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United States regulators successfully took three crypto enforcement actions against high-profile industry players. Stablecoin issuer Tether struck an $18.5 million settlement with the New York Attorney General (NY AG) in February, followed by a $41 million settlement with the CFTC in October, claiming that USDT is fully backed by U.S. dollar assets. The CFTC also reached a settlement with Tether's parent company, Bitfinex, with a lower fine of $1.5 million for illegal transactions. Meanwhile, crypto exchanges Poloniex and BitMEX reached settlements in August for $10.39 million and $100 million, respectively.

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*Originally published on [Untitled](https://paragraph.com/@0xd20dfd4e2a5e61cf359ea1cb6fece82f752d6ecc/during-the-2021-bull-run)*