{"id":145328,"date":"2024-12-22T15:00:12","date_gmt":"2024-12-22T13:00:12","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=145328"},"modified":"2024-12-22T03:17:32","modified_gmt":"2024-12-22T01:17:32","slug":"crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/","title":{"rendered":"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse"},"content":{"rendered":"<p>The SEC <strong><a href=\"https:\/\/www.sec.gov\/files\/litigation\/admin\/2024\/33-11349.pdf\" target=\"_blank\" rel=\"nofollow\">claims<\/a> <\/strong>Tai Mo Shan misled investors about UST\u2019s stability prior to its crash.<\/p>\n<p>In 2021, the company reportedly arranged to buy Terra LUNA at a steep discount from Terraform Labs and purchased $20 million in UST to try and maintain its peg to the U.S. dollar. SEC Chairman Gary Gensler condemned the actions, emphasizing that the crash impacted investors and caused widespread damage to the crypto market. Gensler stressed the need for crypto market participants to comply with securities laws.<\/p>\n<p>UST\u2019s failure in May 2022, when it lost its peg after a large investor dumped $285 million in tokens, led to a massive sell-off and regulatory scrutiny. The collapse also prompted the Lummis-Gillibrand Stablecoin Act, which aims to ban algorithmic stablecoins.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/tether-aims-for-10-billion-profit-and-ai-expansion-in-2024\/\" title=\"Tether Aims for $10 Billion Profit and AI Expansion in 2024\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Tether-4i-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Tether Aims for $10 Billion Profit and AI Expansion in 2024<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>As UST\u2019s market cap grew far beyond its underlying reserves, it became clear that the stablecoin was not adequately backed, eventually leading to its total collapse. This event sparked an investigation into Terraform Labs and its founder, Do Kwon, resulting in legal charges and a major settlement of $4.4 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jump Crypto\u2019s subsidiary, Tai Mo Shan, has agreed to pay $123 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC) over its involvement in the collapse of the TerraUSD (UST) algorithmic stablecoin.<\/p>\n","protected":false},"author":7,"featured_media":37498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-145328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse<\/title>\n<meta name=\"description\" content=\"Jump Crypto\u2019s subsidiary, Tai Mo Shan, has agreed to pay $123 million to settle charges brought by the U.S. Securities and Exchange ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse\" \/>\n<meta property=\"og:description\" content=\"Jump Crypto\u2019s subsidiary, Tai Mo Shan, has agreed to pay $123 million to settle charges brought by the U.S. Securities and Exchange ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoDnes EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-22T13:00:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kostadin Dimitrov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kostadin Dimitrov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/\"},\"author\":{\"name\":\"Kostadin Dimitrov\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/f5770e36288515bca160ee4878e48d1a\"},\"headline\":\"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse\",\"datePublished\":\"2024-12-22T13:00:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/\"},\"wordCount\":184,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg\",\"articleSection\":[\"Others\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptodnes.bg\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/\",\"name\":\"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg\",\"datePublished\":\"2024-12-22T13:00:12+00:00\",\"description\":\"Jump Crypto\u2019s subsidiary, Tai Mo Shan, has agreed to pay $123 million to settle charges brought by the U.S. Securities and Exchange ...\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage\",\"url\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg\",\"contentUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg\",\"width\":1200,\"height\":800},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptodnes.bg\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\",\"url\":\"https:\/\/cryptodnes.bg\/en\/\",\"name\":\"CryptoDnes EN\",\"description\":\"Crypto News, Bitcoin Analysis and More\",\"publisher\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\",\"name\":\"CryptoDnes EN\",\"url\":\"https:\/\/cryptodnes.bg\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg\",\"contentUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg\",\"caption\":\"CryptoDnes EN\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/f5770e36288515bca160ee4878e48d1a\",\"name\":\"Kostadin Dimitrov\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ffb619c90ceb226fc15531f787b1bc58?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ffb619c90ceb226fc15531f787b1bc58?s=96&d=mm&r=g\",\"caption\":\"Kostadin Dimitrov\"},\"url\":\"https:\/\/cryptodnes.bg\/en\/author\/kosta-gushterov\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse","description":"Jump Crypto\u2019s subsidiary, Tai Mo Shan, has agreed to pay $123 million to settle charges brought by the U.S. Securities and Exchange ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/","og_locale":"en_US","og_type":"article","og_title":"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse","og_description":"Jump Crypto\u2019s subsidiary, Tai Mo Shan, has agreed to pay $123 million to settle charges brought by the U.S. Securities and Exchange ...","og_url":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/","og_site_name":"CryptoDnes EN","article_published_time":"2024-12-22T13:00:12+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg","type":"image\/jpeg"}],"author":"Kostadin Dimitrov","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kostadin Dimitrov","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#article","isPartOf":{"@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/"},"author":{"name":"Kostadin Dimitrov","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/f5770e36288515bca160ee4878e48d1a"},"headline":"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse","datePublished":"2024-12-22T13:00:12+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/"},"wordCount":184,"commentCount":0,"publisher":{"@id":"https:\/\/cryptodnes.bg\/en\/#organization"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg","articleSection":["Others"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#respond"]}],"copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/cryptodnes.bg\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/","url":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/","name":"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse","isPartOf":{"@id":"https:\/\/cryptodnes.bg\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg","datePublished":"2024-12-22T13:00:12+00:00","description":"Jump Crypto\u2019s subsidiary, Tai Mo Shan, has agreed to pay $123 million to settle charges brought by the U.S. Securities and Exchange ...","breadcrumb":{"@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#primaryimage","url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg","contentUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/SEC-8.jpg","width":1200,"height":800},{"@type":"BreadcrumbList","@id":"https:\/\/cryptodnes.bg\/en\/crypto-company-settles-with-sec-for-123-million-over-terrausd-collapse\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptodnes.bg\/en\/"},{"@type":"ListItem","position":2,"name":"Crypto Company Settles with SEC for $123 Million Over TerraUSD Collapse"}]},{"@type":"WebSite","@id":"https:\/\/cryptodnes.bg\/en\/#website","url":"https:\/\/cryptodnes.bg\/en\/","name":"CryptoDnes EN","description":"Crypto News, Bitcoin Analysis and More","publisher":{"@id":"https:\/\/cryptodnes.bg\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cryptodnes.bg\/en\/#organization","name":"CryptoDnes EN","url":"https:\/\/cryptodnes.bg\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/","url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg","contentUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg","caption":"CryptoDnes EN"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/f5770e36288515bca160ee4878e48d1a","name":"Kostadin Dimitrov","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ffb619c90ceb226fc15531f787b1bc58?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ffb619c90ceb226fc15531f787b1bc58?s=96&d=mm&r=g","caption":"Kostadin Dimitrov"},"url":"https:\/\/cryptodnes.bg\/en\/author\/kosta-gushterov\/"}]}},"modified_by":"Deyan Angelov","_links":{"self":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/145328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/comments?post=145328"}],"version-history":[{"count":2,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/145328\/revisions"}],"predecessor-version":[{"id":145330,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/145328\/revisions\/145330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media\/37498"}],"wp:attachment":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media?parent=145328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/categories?post=145328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/tags?post=145328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}