The $123 million compensation fine imposed on Tai Mo Shan regarding the LUNA and UST collapse was included in the SEC Press Release.
It was stated that Tai Mo Shan was responsible for being a legal guarantor in the distribution of Luna crypto assets and misleading investors about UST being a stable coin.
⏩ As a penalty for this responsibility, a $123 million compensation fine was imposed. Tai Mo Shan agreed to pay this fine.
▪️The news also included the fines imposed on Do Kwon and TFL. It was included in the news content that Do Kwon accepted a $4.5 billion fine.
🟣 In our opinion, many people/organizations related to UST are responsible. Binance exchange also recommended UST staking transactions with the "Safe Investment" label.
▪️The reason why Tai Mo Shan was penalized is because he was a legal guarantor in the distribution of LUNA. Just as TFL and Do Kwon are responsible; Tai Mo Shan was also held responsible and fined $123 million in return...
⚫️ Every cryptocurrency has risks. Investors should have been warned about these risks. They did not do this regarding UST.
▪️In fact, Terra's official documents mention these risks, but the responsibilities here are related to statements...
There will always be risks when #USTC and #LUNC are recovered. Every cryptocurrency has risks. The important thing is to manage it correctly. Our teacher KAursunLEM shared this news on the TerraHaberTR - Lunc Community page. We have detailed it because we have been asked a lot... You can reach the full news from the link below. 👇
https://sec.gov/newsroom/press-releases/2024-212