From mid‑2022 through 2024 there was a clear surge of U.S. regulatory and prosecutorial activity against crypto entities and individuals, matching Friedberg’s forecast of “a lot of action … over the next couple of years.”

Evidence:

• The SEC made crypto a top enforcement priority. Cornerstone Research reports a record 46 crypto‑related SEC enforcement actions in 2023—up 53% from 2022—followed by 33 more in 2024; 2024 also saw nearly $5 billion in crypto-related monetary recoveries, by far the highest ever. (cornerstone.com) An SEC FY 2023 enforcement release highlights major crypto cases (FTX/Sam Bankman‑Fried, Terraform Labs/Do Kwon, Celsius, Kraken, Genesis/Gemini, Nexo, NFT issuers, etc.). (sec.gov)
• The DOJ ramped up prosecutions through the National Cryptocurrency Enforcement Team (NCET), established in 2022 and actively bringing cases such as Bitzlato (unlicensed exchange processing over $700M in illicit funds) and Tornado Cash founders (money laundering and sanctions‑evasion charges). (justice.gov) High‑profile criminal actions included the FTX/Bankman‑Fried prosecution, which ended in conviction in 2023 and a 25‑year sentence in March 2024, and the Binance case, where founder Changpeng Zhao pled guilty and Binance agreed to a $4.3B settlement. (en.wikipedia.org)
• State‑level authorities also pursued large crypto matters. For example, the New York Attorney General secured a $2B settlement from bankrupt crypto lender Genesis in 2024, one of the largest state crypto enforcement resolutions. (theguardian.com)

Across SEC, DOJ/NCET, and state regulators, the 2022–2024 period saw dozens of actions per year, several multibillion‑dollar settlements, and landmark criminal prosecutions. That level and breadth of enforcement activity fits well with the prediction of a large volume of regulatory and prosecutorial actions over the ensuing “couple of years,” so the prediction is right.