Gold Finance reports that Tai Mo Shan Ltd., the cryptocurrency division of Jump Trading, has agreed to pay $123 million to settle charges from U.S. regulators regarding misleading 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 settled allegations of violating securities laws when underwriting the sister token Luna of TerraUSD. Tai Mo Shan did not admit or deny the agency's charges upon 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 significant purchasing activities helped stabilize the coin, deceiving the market into believing that the algorithmic mechanism was functioning effectively.