tl;dr
The Mango DAO has rejected a proposal to release escrowed funds as part of the $700k settlement with the US SEC. The proposal failed as it did not receive enough votes in favor. This comes amid other crypto firms reaching $32 billion in settlements with US regulators. The second-largest settlement i...
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Crypto firms reach $32 billion in settlements with US regulators The Mango DAO has rejected a proposal to release escrowed funds as part of the $700k settlement with the US SEC. The proposal failed as it did not receive enough votes in favor. This comes amid other crypto firms reaching $32 billion in settlements with US regulators. The second-largest settlement is a $4.7 billion fine by Celsius with the US SEC.
The Mango DAO has rejected the proposal to pay $700k to the as Mango Markets' settlement with the US SEC of securities violations. By Boluwatife Adeyemi 8 hours ago twitter
Highlights
- The Mango DAO has rejected a proposal to release escrowed funds as part of the $700k settlement with the US SEC.
- There were 27,774,65 yes votes while 52.2 million more votes in favor were needed to pass the proposal.
- Crypto firms have so far reached $32 billion in settlements with US regulators.
The Mango DAO has rejected the proposal to pay the US Securities and Exchange Commission (SEC) $700,000 as part of Mango Market’s settlement with the US SEC for their unregistered MNGO token sales. This comes amid the Crypto Com’s recent lawsuit against the Commission following a Wells Notice, which the regulator issued to the crypto exchange.
Realms data shows that the Mango DAO has rejected the proposal to pay the US SEC $700,000 as part of the settlement offer proposed by the DAO, Mango Labs, and Blockworks Foundation. They recently settled with the Commission and had agreed to pay this sum and destroy the MNGO tokens following the charges brought by the regulator for the unregistered sale of these crypto assets.
The proposal was meant to authorize the DAO representative to release the funds currently held in escrow ($669,684) to the SEC to satisfy the amount due against the DAO in satisfaction of the settlement terms. The proposal failed as 52.2 million more Yes votes were needed to pass it. There were only 27,774,65 yes votes in favor of the proposal.
More about General Dynamics Corporation
General Dynamics Corporation Summary General Dynamics Corporation
General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
Industry and Sector
Industry: Manufacturing, Ship & Boat Building & Repairing
Key Financial Metrics
Market Cap: $81.58 billion
PE Ratio: 23.18
EPS: $5.48
Dividend Yield: 12.81
52-Week High: $164.48
52-Week Low: $78.90
Revenue: $44.946 billion
Net Income: $3.24 billion
Debt to Equity: 0.207
Current Ratio: 0.18