According to Jinse Finance, Tai Mo Shan Ltd., the cryptocurrency division of Jump Trading, has agreed to pay $123 million to settle allegations from U.S. regulators that it misled investors about the stability of the TerraUSD algorithmic stablecoin. The U.S. Securities and Exchange Commission (SEC) said in a statement on Friday that the company also resolved allegations related to violations of securities laws when underwriting the sister token Luna of TerraUSD. Tai Mo Shan did not admit or deny the agency's allegations when agreeing to the settlement. TerraUSD was supposed to maintain a constant value of $1 through a complex algorithm involving Luna and trader incentives. The SEC stated that, in reality, Tai Mo Shan's substantial buying activity helped stabilize the coin, deceiving the market into believing that the algorithmic mechanism was functioning.