The SEC fined Tai Mo Shan $123 million for deceiving investors about the stability of Terra USD, artificially maintaining the price at $1, and illegally selling LUNA tokens as unregistered securities 💵

The SEC imposed a $123 million fine on Tai Mo Shan for misleading investors about the stability of Terra USD (UST) and the illegal sale of LUNA tokens. The company artificially supported the UST price with $20 million in purchases, hiding external intervention. Additionally, Tai Mo Shan sold LUNA as unregistered securities, violating U.S. laws. The company agreed to pay the fines and cease its violations.