Farcaster

The U.S. Securities and Exchange Commission (SEC) announced that it has filed a settlement of charges against Mango Dao and Blockworks Foundation for providing and selling "MNGO" governance tokens for the Mango Markets platform without registration. According to the SEC's allegations, the two entities raised more than $70 million through unregistered token sales since August 2021. To reach the settlement, Mango Dao, Blockworks Foundation, and Mango Labs agreed to pay a civil penalty of nearly $700,000 and destroy all MNGO tokens, which still needs court approval.