SEC charges Mango Markets, Mango Labs, and Blockworks Foundation for unregistered $70M MNGO token sales, violating securities laws.
The SEC has charged Mango Markets, along with its affiliates Mango Labs and Blockworks Foundation, for unregistered sales of its MNGO governance tokens, violating securities laws. The entities raised over $70 million from investors, including those in the U.S., without proper registration, depriving them of investor protections. They have agreed to a settlement involving nearly $700,000 in penalties and the destruction of MNGO tokens, pending court approval.
September 27, 2024
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