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The Solana (SOL)-based decentralized exchange (DEX) Mango Markets has proposed a $500,000 settlement with the U.S. Commodity Futures Trading Commission (CFTC). The DEX’s decentralized autonomous organization (DAO) voted this week to approve a settlement offer proposal that includes the civil penalty and an agreement to cease and desist from violating various commodity regulations. The $500,000 civil penalty, if agreed to by the CFTC, will be paid by Mango DAO and two associated entities, Blockworks Foundation and Mango Labs, LLC. The CFTC and the Securities and Exchange Commission (SEC) launched investigations into Mango Markets after crypto trader Avraham Eisenberg exploited the protocol for $110 million worth of digital assets in 2022. In August, Mango DAO members voted to approve a settlement proposal to the SEC, which accused them of violating several clauses in The Securities Acts of 1933 and 1934. If accepted by the SEC, the proposal would include a ...

In the wake of the lending institution’s financial collapse in July 2022, American authorities found themselves contemplating a decisive response against Stephen Ehrlich, accusing him of breaching derivatives regulations. Rumors swirl within the corridors of the United States Commodity Futures Trading Commission (CFTC), hinting at a potential crackdown on Stephen Ehrlich, the erstwhile chief executive officer of Voyager Digital, a crypto lending firm. Per an illuminating Bloomberg report dated October 6, CFTC ’s staff members are in the throes of deliberation, pondering the notion of pursuing punitive measures against Ehrlich. Their investigation, which culminated just before Voyager ’s bankruptcy filing, suggests that the former CEO transgressed U.S. derivatives regulations. It’s worth noting that Voyager sought refuge under Chapter 11 in July 2022, coinciding with the turbulence in the cryptocurrency market. Ehrlich, evidently perturbed and mystified by th...

Despite Brian Shroder resigning as CEO of the exchange’s US wing amid SEC and CFTC lawsuits, Binance CEO Changpeng Zhao claimed that the departure was normal. Binance Holdings CEO Changpeng Zhao (CZ) has shot down speculation surrounding the departure of Binance.US CEO Brian Shroder, noting that he i “ taking a deserved break " after a successful two year stint at the company.  Binance.US is a subsidiary of Binance Holdings, and the U.S. based exchange has seen a handful of other top executives recently step down from the firm amid lawsuits from the Securities and Exchange Commission and Commodities Futures Trading Commission.  In a Sept. 15 statement via X (Twitter), CZ urged people to "ignore FUD" around the recent shuffling of execs, as he suggested that Shroder was leaving the firm amicably after accomplishing everything he "set out to do when he joined two years ago." "Under his leadership, Binance.US raised capital, improved its product and servic...

Stellar’s pre-announcements may have caused traders to create multiple scenarios for potential XLM developments, but their impact on the XLM price could be short-lived. The Stellar token experienced a notable 11.5% increase in value between Sept. 2 and Sept. 8, a novelty given that Bitcoin and most altcoins are down for the week. The surge came after Stellar (XLM) tested the $0.113 support level, which marked its lowest point in the past eight weeks. The price upswing followed a preliminary announcement made by the Stellar organization on social media.  While the announcement was somewhat cryptic, it hinted at something significant occurring on Sept. 12, with phrases like “something cool is dropping” and "change” on the horizon. XLM price in USD at Bitfinex, 12-hour time frame. Source: TradingView More recently, on Sept. 7, Stellar further heightened expectations by teasing a potential partnership. However, similar to the earlier announcement, no specific details were provided,...