Jump Trading cryptocurrency subsidiary fined $123 million for TerraUSD scandal

BlockBeats News: On December 21st, the US Securities and Exchange Commission (SEC) announced that Jump Trading subsidiary Tai Mo Shan Ltd. will pay $123 million to settle allegations that it misled investors by stabilizing the TerraUSD during its collapse. The company associated with Jump's cryptocurrency division made significant purchases during the TerraUSD crash to support the failed stablecoin's $1 peg, thereby deceiving the market. The SEC accuses Tai Mo Shan of negligence, stating that he conducted $20 million worth of transactions that created a false impression of TerraUSD stability. The regulatory authorities also emphasized the company's role in underwriting TerraUSD's sister token Luna, stating that it is suspected of being issued as unregistered securities. （DL News）