Mango Markets shuts down following SEC settlement
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Mango Markets shuts down following SEC settlement
Publish date
12:00am, Sunday, January 12, 2025
Referenced by
Mango DAO votes to close Mango Markets DeFi marketplace
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According to the SEC, Mango raised over $70 million in August 2021 by selling MNGO governance tokens, which violated the Securities Act of 1933. The SEC also accused Mango Labs of acting as an unregistered broker, violating the Securities Exchange Act of 1934
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As part of the settlement, Mango’s decentralized autonomous organization (DAO) agreed to pay $700,000 in civil penalties, destroy MNGO tokens, and petition exchanges to delist the tokens
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