SEC Fines Mango DAO for Unregistered MNGO Tokens

September 28, 2024 Bitcoin.com

bitcoin.com

The U.S. Securities and Exchange Commission (SEC) has filed charges against Mango DAO, Blockworks Foundation, and Mango Labs LLC for offering unregistered securities. The case centers around the sale of MNGO tokens and the operation of Mango Markets without proper registration. Mango Markets Hit With SEC Charges The SEC alleges that since August 2021, Mango […]

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Mango Markets mulls $500K CFTC settlement amid ‘ongoing’ investigation

September 24, 2024 Coin Telegraph

Mango Markets mulls 0K CFTC settlement amid ‘ongoing’ investigation

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Solana-based decentralized exchange Mango Markets is considering offering the CFTC a $500,000 civil penalty to resolve the regulator’s allegations against the platform.

Solana-based decentralized exchange Mango Markets could soon be fined another $500,000, this time to settle allegations brought by the Commodity Futures Trading Commission.

In a Sept. 22 proposal from Mango Markets’ legal representatives to the Mango DAO, the lawyers noted an “ongoing and nonpublic” investigation from the CFTC. They suggested fronting up half a million dollars to end it.

According to the proposal and additional statements in the Mango Markets’ Discord server, the decentralized exchange faces charges from the CFTC for allegedly failing to register as a commodities exchange, illegally offering services to customers in the US, and failing to implement sufficient KYC measures.

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Solana-Based DeFi Platform Mango Markets Drafts Proposal for Settlement Conditions With SEC

August 22, 2024 The Daily Hodl

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A decentralized finance (DeFi) platform based on the smart contract platform Solana (SOL) is drafting a proposal to settle with the U.S. Securities and Exchange Commission (SEC). In a new community proposal, the decentralized autonomous organization (DAO) of Mango Markets (MNGO) has voted to settle with the SEC even though the regulator hasn’t formally charged […]

The post Solana-Based DeFi Platform Mango Markets Drafts Proposal for Settlement Conditions With SEC appeared first on The Daily Hodl.

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Mango Markets DAO mulls offering settlement with SEC

August 20, 2024 Coin Telegraph

Coin Telegraph

The proposed settlement involves Mango DAO neither admitting nor denying wrongdoing and paying a $223,228 fine.

Mango Markets is considering making a settlement offer with the United States Securities and Exchange Commission (SEC) over allegations it violated US securities laws.

The DAO that manages the Solana-based decentralized exchange (DEX) opened voting for an “SEC Settlement Offer Proposal” on Aug. 19.

The Mango DAO proposed a settlement that includes paying fines, destroying its MNGO tokens, and seeking delisting from trading platforms.

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Despite the Crypto Market Downturn, DAO Treasuries Grew by $700 Million Since January

October 1, 2022 Bitcoin.com

Despite the Crypto Market Downturn, DAO Treasuries Grew by 0 Million Since January

$700 million

Since January 2022, the entire crypto economy has shed $1.36 trillion in value, as the market capitalization dropped from $2.34 trillion to today’s $979 billion. While the crypto economy is down in value, trade volumes are lower, and the value locked in decentralized finance (defi) has shed billions, treasuries held by decentralized autonomous organizations (DAOs) […]

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