Deep Tide TechFlow news, on December 21, according to official news, the U.S. Securities and Exchange Commission (SEC) announced a fine of $123 million against Jump Trading's wholly-owned subsidiary Tai Mo Shan Limited, due to misleading investors during the de-pegging of Terra USD (UST). The SEC pointed out that Tai Mo Shan reached an agreement with Terraform Labs to obtain a discount purchase right for LUNA tokens by purchasing UST when UST deviated from the $1 peg price in May 2021.
It is reported that Tai Mo Shan purchased over $20 million of UST at that time, attempting to restore its price peg. The SEC believes this action misled the market into believing that Terra's algorithmic mechanism was functioning. Additionally, the SEC also accused Tai Mo Shan of acting as a statutory underwriter for LUNA tokens, distributing securities on U.S. trading platforms without registration from January 2021 to May 2022.
