Reported about 16 hours ago
Tai Mo Shan Ltd., a subsidiary of Jump Trading's crypto division, has agreed to pay $123 million to settle allegations from the SEC that it misled investors regarding the stability of the defunct TerraUSD stablecoin. The SEC noted that Tai Mo Shan's significant purchases in May 2021 falsely suggested that the algorithmic mechanisms backing TerraUSD were intact. Additionally, the company faced claims about breaching securities laws in its role as an underwriter for the sister token, Luna. The settlement comes amidst ongoing scrutiny of practices during the crypto winter.
Source: YAHOO