OpenSea CEO Devin Finzer said that the NFT marketplace received a Wells notice from the SEC, suggesting potential enforcement action from the agency.
In this week’s newsletter, find out how former United States president Donald Trump’s fourth non-fungible token (NFT) collection performed, and read about the US Securities and Exchange Commission sending a Wells notice to NFT marketplace OpenSea. Take a look at how crypto advocates reacted to the notice, and check out Cointelegraph’s interview with a Web3 executive explaining how NFTs could potentially be classified as securities. In other news, the monthly sales volume of NFTs fell below $400 million for the first time in 2024.
Former US President and current presidential candidate Donald Trump released his fourth dive into the world of NFTs with a trading card collection called America First. The collection gained massive support upon its launch, earning Trump $2.2 million in crypto.
However, some community members were not happy with Trump’s NFT project. A community member said the NFT project makes the former president’s crypto push feel like a “grift.”
