In this recent ruling, a court agreed that DraftKings’ NFTs involved an investment of money, pooled assets into a common enterprise with shared risks and profits, and created a reasonable expectation of profit from DraftKings’ efforts, thus plausibly classifying them as securities under the Howey test.
Related posts
-
Satoshi Action Fund’s Dennis Porter Heralds the Arrival of Nation-State Hyperbitcoinization
Dennis Porter, the co-founder of the Satoshi Action Fund,... -
U.S. Crypto Stocks Surge in Pre-Market Trading as the BTC Price Tops $82K
MicroStrategy, the publicly traded company holding the largest amount of bitcoin, 252,200 BTC, rallied 11% to... -
Humpy the Whale Cost Crypto Exchange FTX, Alameda Research $1 Billion in Losses, Lawsuit Alleges
According to the filing, in January 2021, Meerun began accumulating a position in BTMX, an illiquid...