Mango Markets is contemplating a settlement offer with the SEC regarding accusations of breaching US securities laws. The Solana-based DEX's DAO initiated a vote for an 'SEC Settlement Offer Proposal,' suggesting fines payment, MNGO token destruction, and delisting from trading platforms. The proposal garnered overwhelming support with all votes in favor. Following a $110 million manipulation incident in October 2022, leading to a criminal trial and investigations by multiple agencies, the SEC alleged securities violations by Mango DAO, Mango Labs, and Blockworks Foundation. The proposed settlement involves a monetary penalty from the DAO Treasury, ceasing token activities in the US, and seeking delisting from exchanges. Despite aiming to avoid litigation and resolve allegations without admission of guilt, the SEC has yet to approve the proposal. MNGO token prices saw a slight increase but remain significantly below previous highs. Read more AI-generated news on: https://app.chaingpt.org/news