Jump Trading’s Tai Mo Shan to Pay $123 Million in SEC Probe
- Regulator accuses firm of misleading investors about TerraUSD
- Case focuses on purchases that helped prop up the stablecoin
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Tai Mo Shan Ltd., part of Jump Trading’s crypto unit, agreed to pay $123 million to settle a US regulator’s claims it misled investors about the stability of the failed TerraUSD algorithmic stablecoin.
The business also resolved claims that it broke securities laws while underwriting offerings of TerraUSD’s sister token, Luna, the Securities and Exchange Commission said in a statement Friday. Tai Mo Shan didn’t admit or deny the agency’s accusations in agreeing to settle.