Mango Markets, once a notable DeFi exchange, now faces SEC investigation for alleged securities law violations and prepares to vote on a settlement proposal.
The settlement proposal could lead to Mango Markets paying hundreds of thousands in fines and delisting its MNGO tokens, causing potential operational chaos.
Mango Markets is under scrutiny from multiple regulatory bodies, including the SEC and DOJ, following a disastrous $110 million loss tied to fraudster Avraham Eisenberg.
The proposal to settle with the SEC raises questions about the future of Mango Markets, particularly concerning the MNGO governance token's purpose and functionality.
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