Mango DAO failed to pass the proposal to "authorize nearly $700,000 to pay the SEC to settle charges."

ChainCatcher news, the Mango DAO community failed to pass the proposal regarding "authorizing a payment of nearly $700,000 to the SEC to settle the charges." The proposal authorized the DAO to release the currently held funds of $669,684 and pay the SEC, which would satisfy the amount owed under the final judgment against the DAO, Blockworks, and Mango Labs.

Previously, the U.S. Securities and Exchange Commission (SEC) accepted a settlement proposal jointly submitted by Mango DAO, Mango Labs, LLC, and the Blockworks Foundation, which was recorded by the U.S. District Court for the Southern District of New York on October 1, 2024.