PANews, December 21 - According to DL News, Jump Trading's subsidiary Tai Mo Shan Ltd. will pay $123 million in settlement to the U.S. Securities and Exchange Commission to resolve claims from misled investors during the collapse of TerraUSD. It is reported that the company made significant purchases during the collapse of TerraUSD to support the peg of the stablecoin to $1, suspected of market fraud.
It is reported that the U.S. Securities and Exchange Commission has accused the company of conducting transactions worth $20 million, leading investors to make incorrect judgments about the stability of TerraUSD. The regulator also emphasized the company's role in underwriting the related token Luna for TerraUSD, stating it is suspected of issuing unregistered securities. This settlement stems from Jump Crypto's involvement in the operations of Terraform Labs, which allegedly profited over $1 billion from it.
