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What will be the next steps for Mango Markets after the SEC settlement by the end of 2024?
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Resolution / Starting Odds
Launches new token with proper registration • 25%
Shuts down operations • 25%
Continues operations without issuing new tokens • 25%
Other • 25%
Official announcements from Mango Markets or the SEC
Story
SEC Charges Solana DeFi Platform Mango Markets for Unregistered Token Sales; Entities to Pay $700K, Destroy Tokens
Sep 27, 2024, 07:00 PM
The U.S. Securities and Exchange Commission (SEC) has charged Mango Markets, a Solana-based decentralized finance platform, along with Mango DAO, Blockworks Foundation, and Mango Labs, for unregistered offers and sales of the platform's "MNGO" governance tokens and acting as unregistered brokers. The entities have agreed to settle the charges by paying a $700,000 penalty, destroying their MNGO tokens, and requesting the removal of MNGO tokens from trading platforms. Mango Markets had raised $70 million through the sale of MNGO tokens without proper registration. The SEC identified MNGO tokens as securities.
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Cease all operations • 25%
Continue with reduced operations • 25%
Continue with no changes • 25%
Rebrand or restructure • 25%
Settlement finalized • 25%
Settlement rejected • 25%
New charges filed • 25%
No action taken • 25%
Yes, new measures introduced • 25%
No new measures introduced • 25%
Announces intention but no implementation • 25%
Partially implements new measures • 25%
Increase by more than 50% • 25%
Increase by less than 50% • 25%
Decrease • 25%
No significant change • 25%
Reintroduce more crypto assets • 25%
Expand into new financial products • 25%
Merge with another company • 25%
Other • 25%
Less than $1 million • 25%
$1 million to $5 million • 25%
$5 million to $10 million • 25%
More than $10 million • 25%