Washington, D.C., Nov. 26, 2024 – The U.S. Securities and Exchange Commission (SEC) has directed the disbursement of $4.58 million from the Fair Fund to investors harmed by Poloniex, LLC, pursuant to a previously approved distribution plan. The disbursement follows an order issued by the Division of Enforcement after a comment period for the proposed distribution plan, which concluded without objections.

The Commission had first issued a Notice of Proposed Plan of Distribution in December 2022, providing interested parties an opportunity to comment on the proposed methodology for the distribution of the Fair Fund. With no comments received during the designated 30-day period, the SEC approved the distribution plan on January 31, 2023.

According to the approved plan, the Fair Fund—along with accumulated interest, less applicable taxes, fees, and expenses—will be distributed to harmed investors based on the distribution methodology outlined in the plan.

The Fund Administrator has submitted a payment file to SEC staff, which has been reviewed and accepted. The SEC has now authorized the transfer of $4,584,409.75 from the Fair Fund to its escrow account at The Huntington National Bank N.A., where the distribution will be handled in accordance with the plan.

This distribution is part of the SEC’s ongoing efforts to ensure that investors affected by violations of securities laws are made whole.

For further details or inquiries regarding the distribution process, individuals can refer to the SEC’s official communications or the Division of Enforcement’s guidance.