Yuga Labs-associated NFTs, token falls following SEC probe

Yuga Labs has seen the value of assets associated with its brand decline following news of the SEC’s investigation into whether it broke federal laws. Bored Ape’s floor price fell 3.31% in the last 24 hours to 73 ETH ( $94,947). The blue-chip collection had shed over 6% of its value on the seven days metric. According to the report, the SEC is considering whether the NFTs issued by the company are more like stock and, therefore, should follow the same rules. The regulator was also investigating whether ApeCoin qualified as securities. Bloomberg reported that the SEC was investigating whether Yuga Labs violated federal securities law with the sales of its NFTs.

Leave a Reply

Your email address will not be published. Required fields are marked *