Skip to Primary Navigation

Skip to main content

SEC charges Terraform-affiliated company with fraud

Police officers escort Do Kwon after he served sentence in prison for document forgery on March 23, 2024 in Podgorica, Montenegro. Photo: Filip Filipovic/Getty Images

Alexander Barzacanos

2 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

The SEC stated that Tai Mo Shan boosted stablecoin UST’s price, creating the false impression of algorithmic stability.

The SEC has fined Tai Mo Shan, a subsidiary of Jump Trading, $123m over allegations that it bought a large volume of the stablecoin UST in an attempt to keep its price at $1. According to the SEC, this created the false impression that UST’s price was being stabilized through

That

, , , , , , ,