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
SEC charges Terraform-affiliated company with fraud
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The SEC stated that Tai Mo Shan boosted stablecoin UST’s price, creating the false impression of algorithmic stability.