The United States Securities and Exchange Commission (SEC) has filed its first unregistered securities sales claim against a media and entertainment company that sold nonfungible tokens (NFTs) to investors. The company, Impact Theory, allegedly raised nearly $30 million through the sales of NFTs called Founder's Keys.
OpenSea Manager Sentenced to Prison for Insider Trading
A former manager at NFT marketplace OpenSea has been sentenced to three months in prison and fined $50,000 for insider trading. Nathaniel Chastain was found guilty of wire fraud and money laundering related to trades on the platform.
Rarible Sees Increase in Trading Volume After Commitment to Royalties
NFT marketplace Rarible experienced a significant increase in trading volume after publicly pledging to support the maintenance of creator royalties. The platform saw a nearly 585% jump in trading volume within 24 hours following its statement.
Donald Trump NFT Prices Soar After Mugshot Goes Viral
Prices of NFTs featuring Donald Trump skyrocketed after a photo of the former U.S. president's mugshot was released as part of his criminal case in Georgia. The floor price of Trump's digital trading cards increased by over 62% on Aug. 24 after the image became public.
Ordinal Bitcoin Transactions Remain Dominant Despite Price Decline
Ordinal transactions continue to make up the majority of activity on the Bitcoin network, despite the recent price decline of the cryptocurrency. In the past week, 450,785 of the 530,788 Bitcoin transactions were Ordinal-related.
Stay up to date with the latest developments in the NFT space by checking back next Wednesday for more reports and insights.
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