CoinVoice has recently learned that the U.S. Securities and Exchange Commission (SEC) said that Jump Trading subsidiary Tai Mo Shan Ltd. will pay $123 million to settle charges that it misled investors by stabilizing the TerraUSD currency during the collapse of the currency.
The company, which is associated with Jump’s cryptocurrency division, made large purchases during the TerraUSD crash to prop up the failed stablecoin’s $1 peg, defrauding the market. The SEC charged Tai Mo Shan with negligence, noting that he conducted $20 million worth of transactions that created a false impression of TerraUSD’s stability.
The regulator also highlighted the company’s role in underwriting TerraUSD’s sister token, Luna, which it said was allegedly offered as an unregistered security. [Original link]