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SEC charges Jump Crypto subsidiary $123 million for manipulating Terra Luna UST peg – TON BOT

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SEC charges Jump Crypto subsidiary $123 million for manipulating Terra Luna UST peg

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The Securities and Exchange Commission has charged Tai Mo Shan Limited, a subsidiary of Jump Crypto, for misleading investors about Terra USD (UST) after it lost its peg. Tai Mo Shan allegedly participated in trading to maintain UST’s price, leading to a $123 million settlement. Terra Luna ecosystem has faced challenges, including legal issues and leadership changes. Market confidence in Terra has been damaged, with Terra Classic trading at lower valuations and the newer Terra (LUNA) facing downward pressure. Regulators are investigating other tokens linked to Terraform for potential securities violations.

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