ApeCoin Crashes 7% Following SEC Probe Against Yuga Labs
ApeCoin (APE) is trending to the downside as the U.S. Securities and Exchange Commission (SEC) announces an investigation against its parent company, Yuga Labs. The creators of popular non-fungible token (NFT) collections, including Bored Ape Yacht Club (BAYC), the regulator will look into a potential violation of their securities laws. Related Reading: Here’s Why SUSHI Is Down More Than 10% In The Last 24 Hours According to a report from Bloomberg, the Commission will investigate the “affinity” of the digital assets minted and promoted by Yuga Labs and the possibility that these NFTs are....
Related News
ApeCoin will be distributed among owners of BAYC NFTs and is set to be used as the “primary token” in a new ecosystem of play-to-earn games from Yuga Labs and Animoca Brands. Owners of Bored Ape Yacht Club (BAYC) NFTs — including celeb holders like Eminem, Steph Curry, Jimmy Fallon and Mark Cuban — are set to receive a brand new token called ApeCoin (APE) as yet another incentive for being part of the exclusive digital asset club. The developer of the new token is the ApeCoin DAO and is notably separate from Yuga Labs. Introducing ApeCoin ($APE), a token for culture, gaming, and commerce....
ApeCoin DAO board member Yat Siu said that there is currently "no discussion" regarding an exclusive chain for APE. ApeCoin (APE) announced its integration with Ethereum (ETH) sidechain Polygon after the recent Yuga Labs’ Otherdeeds nonfungible token (NFT) minting incident that led to speculation on a new chain for APE.One of the world's largest Web3 ecosystems, @0xPolygon now supports ApeCoin making it available for 19,000+ dApps and games across the board! https://t.co/vUoGTAfqkl— ApeCoin (@apecoin) May 2, 2022 On Sunday, Yuga Labs, the creators of the Bored Ape Yacht Club NFT....
It’s been a busy March for Bored Ape Yacht Club creators Yuga Labs. After acquiring CryptoPunks and Meebits projects from Larva Labs in recent days, they are back for more, introducing a new token ‘ApeCoin’ this week. It’s Yuga Labs’ first token for Bored Ape Yacht Club, one of the most dominant names in the […]
A source familiar with the matter said the SEC is looking into whether certain NFTs from Yuga Labs could be “more akin to stocks.” Sources say that the U.S. Securities and Exchange Commission (SEC) probe into Yuga Labs is actually part of a wider investigation into the nonfungible token (NFT) market, which already came to light in March.On Oct. 11, a report from Bloomberg citing a source “familiar with the matter” said the SEC is investigating Yuga Labs over whether certain NFTs are “more akin to stocks” and whether the sales of certain digital assets violate federal laws. However,....
APE price could see more downside in the coming days as the Otherside hype cools down. ApeCoin (APE) caught its bulls off-guard with APE price losing nearly 40% in just three days.No dutch auctionAPE's price reached its second-highest level, hitting $27.57 on April 28, up more than 2,650% from its mid-March debut.Nonetheless, traders started unwinding their positions after Yuga Labs, the Bored Ape Yacht Club (BAYC) NFT collection's creator, released the details of the mint of its Otherside Metaverse lands, dubbed "Otherdeed."Yuga Labs revealed that the NFT mint would cost a flat 305 APE....