Crypto News
-
Crypto Taxes Explained: What You Need to Know
Cryptocurrency has revolutionized the financial world, offering decentralized, borderless, and secure transactions. However, with great innovation comes great responsibility, especially…
Read More » -
How to Use Technical Analysis for Crypto Trading
Cryptocurrency trading has become increasingly popular over the years, with millions of traders worldwide trying to capitalize on the volatile…
Read More » -
How to Avoid Crypto Scams and Stay Safe Online
Cryptocurrency has revolutionized the financial world, offering decentralized, secure, and fast transactions. However, with the rise of digital currencies, crypto…
Read More » -
Is Crypto a Bubble or the Future of Finance?
Cryptocurrency has become one of the most hotly debated financial topics of the 21st century. With Bitcoin surging to all-time…
Read More » -
Best Crypto Wallets for Safe Storage in 2025
As the cryptocurrency market continues to evolve, the importance of securing your digital assets has never been more critical. With…
Read More » -
How to Earn Passive Income with Cryptocurrency
Cryptocurrency has revolutionized the financial world, offering new opportunities for investors and tech enthusiasts alike. Beyond the potential for high…
Read More » -
The Impact of Bitcoin Halving on Crypto Prices
Bitcoin halving is one of the most anticipated events in the cryptocurrency market. This event occurs approximately every four years…
Read More » -
What Is Blockchain and How Does It Work?
Blockchain technology has become a buzzword in the digital world, revolutionizing industries such as finance, healthcare, supply chain management, and…
Read More » -
5 Best Crypto Trading Strategies for Maximum Profit
The cryptocurrency market is dynamic, volatile, and filled with opportunities for traders who know how to navigate it successfully. If…
Read More » -
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…
Read More »