Mango Markets Seeks to Settle Securities Violations with SEC

Solana ecosystem DEX Mango Markets is currently preparing to settle with the US SEC over allegations that it violated a series of securities laws. Mango DAO, the entity that manages Mango Markets, began voting on the "SEC Settlement Proposal" on Monday, which would have it pay hundreds of thousands of dollars in fines, destroy its holdings of MNGO tokens, and seek to be delisted from other trading platforms. The SEC has not yet accepted the proposal. But if this vote passes (it has received enough votes to pass) and the agency does accept this proposal, Mango Markets' future may become very uncertain. It is unclear how Mango Markets' daily functions will be maintained at that time. (CoinDesk)