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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
Check out and engage with Kevin_Lee’s latest post!
👉 Post: https://www.gate.com/post/status/11758920
👉 Profile: https://www.gate.com/profile/Kevin%20Lee
Let’s give Kevin_Lee a warm welcome! 👏👏👏
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📄 More info 👉 https://www.gate.com/announcements/article/45695 - 🎉 Gate Alpha Second Points Special Airdrop is coming!
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📸 Alpha Points Snapshot: June 24, 16:00 (UTC)
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Tai Mo Shan Ltd., a subsidiary of Jump Trading's Cryptocurrency Division, has agreed to pay $123 million to settle charges by US regulatory agencies.
Golden Finance reported that Tai Mo Shan Ltd., the Cryptocurrency division of Jump Trading, has agreed to pay $123 million to settle US regulators' allegations of misleading investors about the stability of its TerraUSD Algorithm stablecoin. The U.S. Securities and Exchange Commission said in a statement on Friday that the company has also resolved allegations of violating securities laws when underwriting TerraUSD's sister token Luna. Tai Mo Shan did not admit or deny the agency's allegations when agreeing to the settlement. TerraUSD was supposed to achieve a constant value of 1 US dollar through a complex Algorithm involving Luna and trader incentive mechanisms. The U.S. Securities and Exchange Commission stated that in reality, the substantial purchases of Tai Mo Shan helped stabilize the currency, deceiving the market into believing that the Algorithm mechanism was at work.