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NFTs are not in their best shape now. The whole hype seems to have worn off, which is evident in the notable drop in NFT sales on several NFT marketplaces, including OpenSea. However, the scrutiny over NFTs doesn’t seem to wear off as Yuga Labs faces an investigation from the SEC. Bored Ape Yacht Club ( BAYC ) creator Yuga Labs faces a probe from the US Securities and Exchange Commission (SEC), according to Bloomberg. The investigation is to enquire whether the Bored Ape Yacht Club NFT collection violated federal law. BREAKING: 🇺🇸 SEC launches investigation into Bored Ape Yacht Club creator Yuga Labs. — Watcher.Guru (@WatcherGuru) October 11, 2022 SEC is examining whether BAYC NFTs are securities As per the details from the person familiar with the matter, the SEC is looking into the possibility of whether a few of the NFTs sold by Yuga Labs are similar to securities and whether they should follow similar rules. The SEC is also looking...

Nasdaq said that the retail side of the crypto market is quite saturated at the moment with many service providers looking to fulfill retail investors’ needs. Nasdaq, the American stock exchange, has no immediate plans of launching a crypto exchange until there’s better regulatory clarity from policymakers, said Tal Cohen, the company’s executive vice president. In an interview with Bloomberg, Cohen said that the retail side of the crypto market is fairly saturated and there are enough crypto exchanges catering to the needs of retail investors. He added that his firm would continue its focus on crypto custody services that were launched on Sept. 20. Cohen also shed some light on other crypto-related services that the exchange is working on, namely building execution capabilities on the platform to move and transfer assets. The world’s second-largest stock exchange might be hesitant to launch a crypto exchange in the United States, but the firm partnered with Brazil’s leading brokera...