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

, , , , , , , ,

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience