SEC Fines Tai Mo Shan $123M Over TerraUSD Depeg Misconduct

Quick Summary:

Securities and Exchange Commission (SEC) has fined Tai Mo Shan Ltd., a subsidiary of Jump Crypto, $123 million for misleading investors about TerraUSD’s stability.

TerraUSD, an algorithmic stablecoin issued by Terraform Labs, collapsed in May 2022, wiping out $40 billion in investor assets.

The SEC also alleged Tai Mo Shan’s involvement in unregistered securities offerings.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Sindhu

Category: Crypto

Markets: United Arab Emirates

Topics: LUNA Terra Market News Crypto SEC

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-22 @ 05:33:41 (17 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 273 words

Reading Time: 2 minutes read

Sentences: 30 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 24580711

View Article Analysis

About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 6 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 15 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #125

Publisher Details

Frequently Asked Questions