The SEC has filed settlement charges against the entity operating the cryptocurrency trading platform Mango Markets.

Wu learned that the U.S. Securities and Exchange Commission (SEC) has filed settlement charges against Mango $DAO and Blockworks Foundation for offering and selling the "$MNGO" governance tokens of the Mango Markets platform without registration. According to the SEC's allegations, these two entities raised over 70 million dollars through unregistered token sales since August 2021. To settle, Mango $DAO, Blockworks Foundation, and Mango Labs have agreed to pay nearly 700 thousand dollars in civil penalties and to destroy all $MNGO tokens; this settlement agreement is still subject to court approval.