Token

DeFi

Mango

<ul class="wp-block-list news-points">
 <li>Mango Markets, a DeFi platform, has agreed to settle with the SEC despite no formal charges.</li>
 <li>The SEC has been investigating Mango Markets for offering unregistered securities (the MNGO token).</li>
 <li>Mango DAO members opt for settlement to avoid a costly legal dispute with the SEC, which would involve a $223,228 penalty if approved.</li>
</ul>
Mango Markets, a DeFi platform, has <a href="https://www.bloomberg.com/news/articles/2024-08-20/mango-markets-dao-members-vote-in-favor-of-sec-settlement" target="_blank" rel="noopener noreferrer nofollow">reached a settlement</a> with the U.S. Securities and Exchange Commission (SEC), even though the SEC has not officially accused them of any wrongdoing. This development follows a trader’s theft of $110 million from Mango Markets using the MNGO token.
Back in April of last year, a trader named Avraham Eisenberg was accused of <a href="https://coinedition.com/eisenberg-amasses-144-m-mango-lab-sues-for-price-manipulation/" rel="noopener noreferrer nofollow">manipulating the MNGO token</a> to steal $110 million from Mango Markets. This was the first US criminal case involving crypto manipulation The SEC investigated Mango Markets for potentially offering unregistered securities (the MNGO token). However, they have yet to charge the platform formally.
Still, Mango DAO members voted in favor of a settlement with the SEC. The settlement requires the DeFi platform to pay a $223,228 civil penalty, stop all trading of MNGO tokens in the US market…
The post <a href="https://coinedition.com/mango-markets-settles-with-sec-mngo-token-delists/" rel="noopener noreferrer nofollow">Mango Markets Settles with SEC, MNGO Token Delists</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Mango Markets Settles with SEC, MNGO Token Delists

Coin Edition

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