Crypto Token Holders Approve SEC Settlement Absent Any Charges

The crypto token holders that manage Mango Markets voted to approve a settlement with the US Securities and Exchange Commission even though the agency hasn’t charged the DeFi platform with any wrongdoing.

In April, a trader accused of exploiting Mango Markets rules to steal $110 million from the decentralized-finance exchange was convicted of fraud in the first US trial involving criminal charges tied to cryptocurrency manipulation.

The settlement would include “the payment of a civil monetary penalty, injunctive relief,” and other provisions, according to the proposal that is posted up for vote on the website of Mango DAO, a decentralized ...