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The SEC has levied a $123 million fine against Jump Crypto subsidiary Tai Mo Shan [W3IGG], which was involved in a secret deal with Terraform Labs to help prop up the floundering Terra stablecoin in May 2021. Jump spent $20 million to help the supposedly “self-healing” stablecoin regain its $1 peg, earning about $1.28 billion in the process, and Terraform Labs CEO Do Kwon would later claim that the restoration to a $1 price was thanks to an automatic feature of the Terra project and not some backroom deal [I54, 60].10 This lie by Terraform Labs and Jump Crypto helped build confidence in the sustainability of the Terra token, which collapsed horrendously a year later. The SEC has also reached a settlement with Cantor Fitzgerald, which will pay a $6.75 million fine over allegations that two special-purpose acquisition companies (SPACs) had misled investors when they claimed that they had not been in contact with the eventual targets of their acquisitions.11 While the companies were not crypto-related (one is a now-bankrupt “smart glass” manufacturer called View, the other an Earth-observation satellite company called Satellogic), SEC action against a company helmed by Trump’s transition team co-chair and soon-to-be Commerce Secretary Howard Lutnick is noteworthy. Cantor Fitzgerald is also closely linked to the Tether stablecoin [I71].