OpenSea

The post Ripple’s CLO Stuart Alderoty Advises OpenSea on Strategy to Navigate Potential SEC NFT Lawsuit appeared first on Coinpedia Fintech News The United States Securities and Exchange Commission (SEC) has continued to go after crypto projects even after losing several battles against top web3 firms including Ripple Labs, on Thursday, the US SEC sent a Wells notice to the leading NFT marketplace, OpenSea, regarding its business operations against the set securities laws.  The US SEC highlighted that NFTs traded…

The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to NFT platform OpenSea, indicating potential legal action as the regulator broadens its crackdown to include NFTs, raising concerns about the future of digital art and innovation. OpenSea Receives Wells Notice In a post on social media platform X, Devin Finzer, CEO of OpenSea, announced that the NFT marketplace has been served a Wells Notice by the SEC. The notice suggests that the SEC views certain NFTs traded…

The post OpenSea Receives Wells Notice from the SEC: Are NFTs Next in Line for Regulation? appeared first on Coinpedia Fintech News Prominent crypto analyst Lark Davis has taken a strong stance against the recent actions of the U.S. SEC, linking them directly to what he calls a broader “crypto reset” led by the Biden administration. Davis’s critique focuses on Vice President Kamala Harris, accusing her of having the power to stop SEC Chair Gary Gensler but choosing not to.…

The post Opensea Receives Wells Notice from the SEC ! appeared first on Coinpedia Fintech News The digital art world is facing an unexpected challenge. OpenSea, a well-known NFT marketplace, is preparing for a possible legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC has sent a Wells Notice to OpenSea, signaling that it may soon take legal action, arguing that NFTs sold on the platform are securities. CEO of Opensea Replied The CEo of Opensea, Devin…

The post SEC Sends Wells Notice to NFT Platform Opensea appeared first on Coinpedia Fintech News The co-founder of NFT platform Opensea has shared from his X account that the platform has received a Wells Notice from the SEC. He said that the SEC wants to sue the platform because according to them the NFTs are securities. He added that they are not going to risk the platform and the hundreds of thousand artists. He stated “To help ensure creators…

Highlights Winkles & Flam™, the ‘Cosplaying Canadian Kitties™,’ are the First Original Cartoon Duo of the web3 space, launching exclusively on OpenSea Drops Sphynx Ink Inc. comprises Oscar®-Nominated Filmmaker Adam Benzine (HBO’s Spectres of the Shoah) & BAFTA®-Winning Illustrator Dele Nuga (The BBC’s The Clangers) Non-PFP and non-generative, Winkles & Flam marks a radical new model for Digital Collectibles, with high-quality, hand-drawn illustrations & weekly/seasonal releases The first project to partner with Mint Foundry, the new Visual Metadata Editor from…

Lawyers serving Nate Chastain – a former Product Manager at OpenSea – are defending the ex-employee against charges of insider trading. They claim that no insider trading could have been possible in Chastain’s case because NFTs are neither securities nor commodities. Chastain Stands His Ground In a recent filing, the lawyers called for the dismissal of government charges against Chastain.   “The government’s arguments are contrary to years of settled precedent and are a transparent effort to plant a flag in…

In a Twitter thread late on Wednesday, OpenSea revealed that it is working on strengthening its policies around asset theft. The marketplace acknowledged the failings of its existing measures, however, going forward the team intends to be more open with users. Users Dissatisfied With Stolen Items Policy Since the onset of space, thefts have been one of the biggest issues the NFT industry has faced. OpenSea does have policies in place for stolen items. However, over the past year, the…

As shown by data from Dune Analytics, OpenSea, the world’s top platform for non-fungible tokens, recently blacklisted a handful of big-name collections. Altogether, the marked collectibles are worth roughly $27 million. OpenSea Flags Tokens Late  Thursday, an on-chain sleuth called beetle put up a dashboard on Dune outlining relevant information regarding the blacklist. Indeed, the list featured the Bored Ape Yacht Club as well as offshoots Mutant Apes and the Bored Ape Kennel Club. Other marked projects include CloneX, Azuki,…