Crypto News
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Mango Markets closes shop following SEC settlement 2025
Mango Markets, a decentralized exchange situated in Solana, is closing its doors. Through its X account, Mango Markets declared on January 11 that company was “shutting down” and that consumers should “close their positions.” This basically puts an end to borrowing and lending on the platform, following governance initiatives to modify interest rates and collateral requirements. These unanimously approved recommendations will go into effect on January 13. Following a deal with the US Securities and Exchange Commission (SEC), the closure has taken place. Alleging the sale of unregistered securities, the SEC filed settlement charges against Mango DAO and the Blockworks Foundation on September 27, 2024. Mango violated the Securities Act of 1933 by selling MNGO governance tokens in August 2021, raising approximately $70 million, according to the SEC. Mango Labs was also charged by the SEC with violating the Securities Exchange Act of 1934 by operating as an unregistered broker. Mango’s decentralized autonomous organization (DAO) consented to pay $700,000 in civil fines, destroy MNGO tokens, and ask exchanges to remove the tokens from circulation as part of the settlement. According to Jorge Tenreiro, head of the SEC’s Cryptocurrency Assets and Cyber Unit, “since the beginning of our cryptocurrency enforcement program, our view has been that the label ‘DAO’ does not change the reality of who is behind a project.” The Mango DAO voted on Aug. 19, 2024, to settle with the SEC for $223,228 and destroy MNGO tokens. In September 2024, a different proposal to reach a $500,000 settlement with the CFTC was made. Mango Markets was launched in August 2021 by founders Maximilian Schneider, Britt Cyr and John Kramer. The platform was created on the Solana blockchain as a decentralized trade and loan platform. It sought to deliver rapid, low-cost trading and borrowing services using its governance token, MNGO. Mango Markets’ total value locked at the time of publication was $9 million, a 95.7% decrease from its peak of $210 million in November 2021, according to DefiLlama. A history…
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Disaster fund for victim of wildfires in California 2025
The Giving fund claims that since its launch, its platform has raised almost $200 million in crypto currency donations. The Giving fund a business that collaborates with nonprofits to enable bitcoin payments, organized an emergency response fundraising for the people affected by the wildfires in California, in southern California. The Giving funds chief operating officer, Ben Pousty, stated that the charity’s objective was to raise $2 million. Jared Isaacman, the CEO of Shift4, The Giving fund parent business, is contributing $1 million to the cause. Additionally, the chief operating officer informed Cointelegraph that there are special advantages to making philanthropic contributions in cryptocurrency. Pousty stated in a written statement: “Crypto is a creative, effective way to give back since it might help donors avoid capital gains taxes, possibly allowing them to deduct the full fair market value on their taxes while contributing more to causes they care about.” Since cryptocurrency may help donors avoid capital gains taxes, they may be able to deduct the full fair market value from their taxes and donate more to organizations that are important to them. This makes cryptocurrency an innovative and efficient way to give back. The Giving Block’s history…
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Top 5 Crypto Tax Software for Australia
Australians have more digital currency in their savings accounts than ever before as a result of the crypto industry’s explosive…
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Crypto and Elections: The Potential of Blockchain for Secure Voting Systems In 2023
Crypto and Elections: The Potential of Blockchain for Secure Voting Systems In 2023? In today’s digital age, the integration of…
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Crypto and Fashion: Opportunities for Digital Assets in Luxury Retail In 2023
Crypto and Fashion: Opportunities for Digital Assets in Luxury Retail In 2023? The fashion industry has always been synonymous with…
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Crypto for Businesses: Integrating Digital Assets into Financial Operations In 2023
Crypto for Businesses: Integrating Digital Assets into Financial Operations In 2023? Cryptocurrencies have gained significant traction in recent years, revolutionizing…
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The Rise of Ethereum: A Revolution in Blockchain Technology In 2023
The Rise of Ethereum: A Revolution in Blockchain Technology In 2023? Blockchain technology has captured the attention of both the…
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Ethereum 7-Month High Shanghai and Capella In 2023
In this Article we’ll dicuss that, Ethereum 7-Month High Shanghai and Capella In 2023? Before Shanghai and Capella Upgrades, Ethereum…
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How to Order Food and Pay Your Bills with Cryptocurrency Online
Introduction: Cryptocurrency has taken the world by storm in recent years, changing how we transact online. More and more places,…
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How to Invest in Ethereum Using Andriod Phone
Introduction: Investing in cryptocurrency has become more accessible to the public with the rise of mobile applications that allow users…
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