Wu said that he learned that the U.S. Securities and Exchange Commission (SEC) announced that it had filed settlement charges against Mango DAO and Blockworks Foundation for their unregistered offering and sale of the "MNGO" governance tokens of the Mango Markets platform. According to the SEC's allegations, the two entities have raised more than $70 million through unregistered token sales since August 2021. To reach a settlement, Mango DAO, Blockworks Foundation, and Mango Labs agreed to pay a civil penalty of nearly $700,000 and destroy all MNGO tokens. This settlement agreement still requires court approval.