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The U.S. Securities and Exchange Commission announced Friday that it secured a $123 million settlement with a Jump Trading subsidiary for allegedly misleading investors about the stability of the now-collapsed Terraform ecosystem. https://t.co/ilmO7LOLxg https://t.co/zp4m8chPWH
🗞 Top #CryptoNews: Mon, Dec 23 (24H) 1️⃣ aelf Introduces aevatar Intelligence: No-Code, No Limits for AI Agents 2️⃣ SEC charges Jump Crypto subsidiary $123 million for manipulating Terra Luna UST peg https://t.co/GJAazel4V1
SEC charges Jump Crypto's Tai Mo Shan for misleading investors on Terra USD
The U.S. Securities and Exchange Commission (SEC) has imposed a $123 million fine on Jump Trading's subsidiary, Tai Mo Shan, for allegedly misleading investors regarding the stability of the TerraUSD stablecoin during its depeg in May 2021. The SEC claims that Tai Mo Shan profited approximately $86 million from activities that included manipulating TerraUSD's $1 peg through incentivized trades and acting as a statutory underwriter for Luna, which was sold as securities. This settlement follows the collapse of the Terraform ecosystem, which has raised concerns about investor protections in the cryptocurrency space.
