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Will Mango Markets comply with SEC settlement terms by the end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
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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Settlement finalized • 25%
Settlement rejected • 25%
New charges filed • 25%
No action taken • 25%
Cease all operations • 25%
Continue with reduced operations • 25%
Continue with no changes • 25%
Rebrand or restructure • 25%
Yes, new measures introduced • 25%
No new measures introduced • 25%
Announces intention but no implementation • 25%
Partially implements new measures • 25%
Less than $1 million • 25%
$1 million to $5 million • 25%
$5 million to $10 million • 25%
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