🚀 Hot crypto news: Tai Mo Shan of Jump Crypto agrees to settle with the SEC for $123 million over misinformation about TerraUSD (UST) before its collapse.

- The SEC stated that Tai Mo Shan bought Terra LUNA at a significantly reduced price and invested $20 million in UST to maintain the 1:1 peg with the USD.

- TerraUSD collapsed in May 2022, significantly impacting stablecoin regulations, leading to the Lummis-Gillibrand Stablecoin Act of 2024.

- This event triggered a wave of investigations into Terraform Labs and Do Kwon, resulting in a $4.4 billion settlement.

💬 What do you think about the future of stablecoins? Share your thoughts!