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Browse: Home / NFTs

NFTs

Cryptoverse: The bonfire of the NFTs

By Securities Docket on July 6, 2022, 8:36 am

The NFT dream isn’t dead, but it’s taken a big non-fungible beating. The market shone gloriously last year as crypto-rich speculators spent billions of dollars on the risky assets, pumping up prices and profits. Now, six months into 2022, it’s looking ugly. Monthly sales volume on the largest NFT marketplace, OpenSea, plunged to $700 million […]

Posted in Industry, Top | Tagged NFTs

The arrest heard ’round the crypto world | TechCrunch

By Securities Docket on June 6, 2022, 8:05 am

There are an awful lot of people taking a very close reading of the SDNY press release, which states it specifically charged Chastain “with wire fraud and money laundering in connection with a scheme to commit insider trading in Non-Fungible Tokens.” They notably describe NFTs as “digital assets” later in the release. Also, it’s worth […]

Posted in Criminal, Top | Tagged NFTs

Don’t Insider Trade NFTs – Bloomberg

By Securities Docket on June 2, 2022, 1:03 pm

Seems bad. But it is weird to put a person in prison for years because he … bought some internet cartoons … before … they were … put on a website? Like on the one hand it certainly seems like insider trading, sure, but on the other hand, does the US government have that much interest in protecting the […]

Posted in Criminal, Top | Tagged NFTs

Bored Ape Yacht Club thefts: Here’s how many NFTs have been stolen.

By Securities Docket on June 2, 2022, 8:25 am

I’ve assembled a lengthy, though surely incomplete, list of stolen apes and related scams. (Keep in mind that ape thefts alone are only a fraction all NFT and crypto thefts over time. It’s an expansive universe! Of scams!) Put on your internet face, whether it’s a bored ape or not, and read on. Source: Bored […]

Posted in Industry, Top | Tagged Bored Apes, NFTs

Former Employee Of NFT Marketplace Charged In First Ever Digital Asset Insider Trading Scheme | USAO-SDNY

By Securities Docket on June 1, 2022, 1:36 pm

FBI Assistant Director-in-Charge Michael J. Driscoll said:  “In this case, as alleged, Chastain launched an age-old scheme to commit insider trading by using his knowledge of confidential information to purchase dozens of NFTs in advance of them being featured on OpenSea’s homepage. With the emergence of any new investment tool, such as blockchain supported non-fungible […]

Posted in Criminal, Top | Tagged Insider Trading, NFTs

Think an NFT is not a security? Don’t bet on it. Three lessons from the Texas and Alabama cease and desist order of Sand Vegas Casino Club | Thompson Coburn LLP – JDSupra

By Securities Docket on May 9, 2022, 7:54 am

Recently, the Texas State Securities Board and the Alabama Securities Commission each issued emergency cease and desist orders to stop Sand Vegas Casino Club and its principals from selling Non-Fungible Tokens (“NFTs”) in those states. According to Sand Vegas, the proceeds of the sale of NFTs were stated to be used for the creation of […]

Posted in Industry, Regulation, SEC, Top | Tagged NFTs

NFT Sales Are Flatlining – WSJ

By Securities Docket on May 3, 2022, 1:46 pm

The NFT market is collapsing. The sale of nonfungible tokens, or NFTs, fell to a daily average of about 19,000 this week, a 92% decline from a peak of about 225,000 in September, according to the data website NonFungible. The number of active wallets in the NFT market fell 88% to about 14,000 last week […]

Posted in Industry, Top | Tagged NFTs

Not Your Standard Orange Grove: Non-Fungible Tokens & Securities Laws

By Securities Docket on June 16, 2021, 1:59 pm

With offerings across a growing number of online platforms and increased trading volume, NFT issuers, promoters, and buyers should consider the legal and regulatory implications relating to NFTs and federal securities laws. Throughout the first half of 2021, non-fungible tokens (“NFTs”) have continued to experience widespread adoption across a range of industries. Just last week, rights to […]

Posted in Industry, Top | Tagged NFTs

NFTs getting a closer look from FINRA

By Securities Docket on May 27, 2021, 1:10 pm

How hot is the NFT craze? It’s so hot that even Finra is trying to wrap its head around it. The Financial Industry Regulatory Authority — the non-government group that licenses broker dealers and accordingly polices it for infractions — is “taking a deep dive to understand NFTs and the implication for the regulation of […]

Posted in Industry, Top | Tagged FINRA, NFTs

Petitioner asks SEC to clarify when NFTs are securities, recommends NFT rulemaking

By Securities Docket on April 20, 2021, 9:02 am

Like initial coin offerings (ICOs) before them, non-fungible tokens (NFTs) have grown in popularity very quickly, and Arkonis Capital believes it is now time for the SEC to step in and provide guidance on whether NFTs are securities. In a rulemaking petition, Arkonis said that a concept release on how to regulate NFTs is a […]

Posted in SEC, Top | Tagged NFTs

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