NFT REVIEW NEWS The SEC Casts a Beady Eye Over Yuga Labs’ Operations

The United States Securities and Exchange Commission (SEC) has reportedly launched an investigation into Web3 powerhouse, Yuga Labs. It is poring over the NFT firm’s wheelings and dealings to determine whether or not it represents a ‘stocks and shares’ style investment.

Over the last year and a half, Yuga Labs has grown into a tour de force within the Web3 industry, starting its mighty journey with the launch of the formidable Bored Apes, before introducing the Bored Kennel Club, Mutant Apes, The Otherside, and by proxy, Apecoin. All while also absorbing the storied properties of Larva Labs into its multi billion dollar organization.

Now however, as the SEC aims to get its head around the fast-paced industry, it will take a deeper look into its investments, taking the time to fully analyse the situation and conclude on the nature of the company’s properties. In the meantime however, Yuga Labs has pledged to cooperate with the authorities to help them get a handle on things.

As of writing, the SEC has not charged Yuga Labs with any misdemeanours. However, that news has not stopped prices of the native Apecoin tumbling by 8% over the last 24 hours. Furthermore, due the nature of the investigation, the Web3 world will watch on with baited anticipation, to see how these events will unfold.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Source link

If this article, video or photo intrigues any copyright, please indicate it to the author’s email or in the comment box.

What do you think?

26 NFT Points
Upvote Downvote


I am the curator of the NFT Review Market News. If the document or content infringes any copyright, please point it out in comments and it will be promptly removed. To all the articles we include the link of the Resource that appears as Source Link If this article, video or photo intrigues any copyright, please indicate it to the author's email or in the comment box.

NFT REVIEW NEWS Meet the Metaverse Creators: 3D Artist & Art Director Malloy

My Crypto Lawyer Sec News Portugal Moves Closer to Taxing Individuals on Short-term Crypto Gains