The SEC charges Jump Crypto’s subsidiary for misleading investors on Terra's stablecoin. They agreed to pay $123M.
Jump Crypto's subsidiary Tai Mo Shan agreed to a $123 million settlement with the SEC due to the Terra collapse aftermath.
Tai Mo Shan's $123 million settlement with the SEC highlights major concerns over TerraUSD's stability and potential market deception. This settlement emphasizes the importance of cryptocurrency regulatory compliance as scrutiny intensifies.
SEC sues Tai Mo Shan for allegedly misleading investors about Terra USD (UST) stability. The company's accused of deception concerning this algorithmic stablecoin's reliability. Legal actions by regulatory bodies like the SEC emphasize the importance of transparency in the crypto world. Stay informed about the ongoing regulatory crackdowns.
SEC slams Tai Mo Shan with fraud charges over Terra USD stability lies. They misled investors about the UST, an algorithmic stablecoin, and unlawfully dealt with LUNA. It's a big move against Terraform's activities.
FTX lawyers oppose Jump Trading's $264 million damages claims, arguing the loan never materialized.