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- Mango DAO Faces SEC Wrath: Forced to Pay $700K and Destroy Tokens in Shocking Settlement!
Mango DAO Faces SEC Wrath: Forced to Pay $700K and Destroy Tokens in Shocking Settlement!
Mango DAO and Blockworks Foundation settle with the SEC over unregistered securities charges, agreeing to pay $700K, destroy their tokens, and delist from exchanges without admitting wrongdoing.
Steven Walgenbach
September 28, 2024
Breaking Crypto Stories
Here are the top stories today:
SEC Settles Charges Against Mango DAO and Blockworks Foundation for Selling Unregistered Securities
Binance Founder CZ Released After Serving Four Months for AML Violations
US ETF Assets Surpass $10 Trillion, Fueled by $20 Billion in Crypto ETF Inflows
Question of the Day
BTC breaks $66K. Bull trap or moon here we come?
đźĄSEC Settles Charges Against Mango DAO and Blockworks Foundation for Selling Unregistered Securities
The SEC has settled charges against Mango DAO and Blockworks Foundation for selling unregistered securities, with both parties agreeing to pay a $700,000 fine, destroy MNGO tokens, and request exchanges to delist the tokens.
The SEC filed settled charges against Mango DAO and Blockworks Foundation for selling unregistered MNGO tokens, raising over $70 million.
Both entities agreed to pay a $700,000 fine, destroy the tokens, petition exchanges for delisting, and stop marketing the tokens.
The SEC emphasized that the use of decentralized platforms and DAOs doesn't exempt entities from securities laws.
🆓Binance Founder CZ Released After Serving Four Months for AML Violations
Binance founder Changpeng "CZ" Zhao was released from a US federal prison after serving a four-month sentence for AML violations, following a guilty plea and agreeing to pay a $50 million fine.
CZ pled guilty to AML violations and unlicensed money transmission, serving a four-month sentence and paying a $50 million fine, while Binance paid $4.3 billion in penalties.
Originally facing a 36-month sentence, CZ's term was reduced due to the lack of evidence showing his awareness of illegal activities at Binance.
Despite stepping down as Binance's CEO, CZ's personal wealth and majority stake in Binance remain unaffected by the case.
🤑US ETF Assets Surpass $10 Trillion, Fueled by $20 Billion in Crypto ETF Inflows
Total assets in US ETFs surpassed $10 trillion, driven by over $20 billion in cryptocurrency ETF inflows in 2024, with BlackRock’s iShares Bitcoin Trust leading the surge.
US ETFs reached over $10 trillion in total assets, with cryptocurrency ETFs contributing $20 billion in inflows so far in 2024.
BlackRock's iShares Bitcoin Trust saw $21 billion in inflows, leading crypto ETFs, while the Fidelity Wise Origin Bitcoin ETF attracted nearly $10 billion.
The SEC recently approved options on BlackRock’s iShares Bitcoin Trust ETF, signaling potential for increased institutional adoption of spot Bitcoin ETFs.
Potential Trade Opportunities
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Pepe (PEPE)
Price Movements: PEPE is showing bullish momentum with recent price increases, but overbought RSI levels suggest a potential correction may be imminent.
Key Levels to Watch: Support is at $0.00001058, with additional support at $0.00000942 and $0.00000839. Resistance is currently at $0.00001143, with a potential breakout target at $0.00001200.
Trade Strategies: For long trades, traders might consider entering around $0.00001110 to $0.00001115 with a target near $0.00001200 and a stop-loss below $0.00001058. For short positions, a break below $0.00001058 could open opportunities toward $0.00000942.
Sui (SUI)
Price Movements: SUI is showing bearish momentum, with the price currently below both the 9-EMA and 20-EMA, signaling potential downside.
Key Levels To Watch: Resistance levels are at $1.7154, $1.7185, $1.724. Meanwhile, support levels are at $1.633, $1.5349, $1.5232
Trade Strategies: For long trades, traders might consider entering above the 9-EMA at $1.6489, with a target at $1.7154 and stop-loss below $1.633. For short trades, a break below $1.633 offers a short entry targeting $1.5349, with a stop-loss above $1.6489.
Ethereum (ETH)
Price Movements: Ethereum (ETH) is currently trading in a narrow range, testing resistance at $2,705.5 while bearish momentum, indicated by the MACD and RSI, signals potential downward pressure.
Key Levels To Watch: Resistance levels at $2,705.5 and $2,718.2 could spark bullish momentum if broken, while support at $2,643.4 and $2,621.5 are crucial for downside protection.
Trade Strategies: Long positions can be considered on a break above $2,705.5, targeting $2,718.2. Short trades are favorable below $2,643.4, with stop-losses positioned above $2,705.5 to mitigate risks.
ICYMI:
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