Mango Markets entities reach a settlement with the SEC and agree to destroy MNGO Token and pay a fine.

2024-09-27 18:53:48

Golden Finance reported that the U.S. Securities and Exchange Commission (SEC) has accused the three entities related to Mango Markets, Mango DAO, Blockworks Foundation, and Mango Labs of offering and selling the ‘MNGO’ Token without registration and engaging in unregistered brokerage activities, involving a total of over $70 million. A settlement has been reached, and the three parties have agreed to pay a fine of approximately $700,000, destroy the MNGO Token, and request the delisting of the token from the trading platform. The settlement still requires court approval.

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