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Mango Markets Struggles to Afford Legal Expenses Amid Regulatory Inquiries and Pushback from DAO Voters

Mango Markets, a blockchain-based trading protocol, is struggling to afford growing legal expenses after being raided for over $100 million by alleged crypto market manipulator Avi Eisenberg. Mango Labs, the main company building the Solana blockchain-based exchange, has burned through nearly $2 million of its 2023 budget and is now asking members of Mango DAO to approve another $2 million for legal expenses. However, Mango DAO voters have rejected the funding request, demanding more transparency into how the company manages its budget. Mango Labs is currently mounting a pricey civil suit against Eisenberg and participating in federal regulatory and criminal cases against him.

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