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Amergonium
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#Luna Tai Mo Shan, a subsidiary of Jump Crypto, agreed to pay $123 million to the U.S. Securities and Exchange Commission for misleading investors about the stability of the algorithmic stablecoin TerraUSD (UST) prior to its collapse.
According to case materials, the firm entered into an agreement with TerraformLabs to acquire LUNA tokens. Additionally, Tai Mo Shan purchased UST worth approximately $20 million to maintain its peg.
"This impacted the entire cryptocurrency market, ultimately depriving countless investors of their savings. Regardless of labels, market participants must comply with securities laws where applicable and not deceive the public," said SEC Chairman Gary Gensler.
According to case materials, the firm entered into an agreement with TerraformLabs to acquire LUNA tokens. Additionally, Tai Mo Shan purchased UST worth approximately $20 million to maintain its peg.
"This impacted the entire cryptocurrency market, ultimately depriving countless investors of their savings. Regardless of labels, market participants must comply with securities laws where applicable and not deceive the public," said SEC Chairman Gary Gensler.
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