Share this article
Blur, Tensor Tokens Dip After NFT Marketplace OpenSea Receives SEC Wells Notice
The U.S. regulator alleged that NFTs sold on OpenSea are securities, the OpenSea CEO said earlier Wednesday.
Updated Aug 28, 2024, 3:12 p.m. Published Aug 28, 2024, 3:10 p.m.
Cryptocurrencies of non-fungible token (NFT) marketplaces dipped during Wednesday U.S. morning hours following news of OpenSea facing potential U.S. regulatory action.
Adding to earlier losses alongside a broad crypto decline begun Tuesday evening U.S. hours, fell another 5% in the minutes following the news before a modest bounce. It's now down 10% over the past 24 hours. , a Solana-based NFT marketplace aggregator, also traded 3% lower. The token's price was down nearly 9% over the past 24 hours. The broader CoinDesk 20 Index was lower by 4% over the same time frame.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The morning price action happened as OpenSea's CEO said the platform received a Wells notice from the U.S. Securities and Exchange Commission alleging that the digital arts sold on the marketplace are securities.
Advertisement
Read more: OpenSea Gets Wells Notice From SEC, Calling NFTs Sold on Platform Securities
OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities.
— Devin Finzer (dfinzer.eth) (@dfinzer) August 28, 2024
We're shocked the SEC would make such a sweeping move against creators and artists. But we're ready to stand up and fight.
Cryptocurrencies have long…
More For You
More For You
Bitcoin Jumps to $99K as Spiking Coinbase Premium Points to Strong U.S. Buying
Spot BTC prices were at times $300 pricier on Coinbase relative to Binance, suggesting the rally may be driven by heavy demand from American investors.
What to know:
- Bitcoin surged towards $100,000 on Wednesday's U.S. trading session, gaining 3.2% in the past 24 hours.
- The rally coincided with significant spot BTC price premium on Coinbase.
- Fed Chair Jerome Powell called bitcoin a competitor to gold during a panel discussion.
Top Stories
