Flowdesk, a French crypto trading firm with expertise in market making and liquidity provision, has raised $52 million in an extension funding round, taking its overall funding to $102 million. The new capital, raised through a combination of equity and debt, will fuel the company’s expansion into new geographies and the opening of a dedicated crypto-credit desk.
Strategic Funding Breakdown:
The round was led by HV Capital in the equity component, with Eurazeo, Cathay Innovation, and ISAI VC also chipping in. BlackRock-managed funds contributed the debt capital. Interestingly, HV Capital has gained a seat on the board of Flowdesk in return for its investment.
Guilhem Chaumont, Flowdesk’s co-founder and global CEO, emphasized that the firm’s decision to take on debt was a strategic move to scale sustainably without significant equity dilution.
“We will do so not only with equity or our own profits. That’s why we chose the path of debt, which is a non-dilutive option for us,” Chaumont explained, highlighting the company’s strong financial position and ability to repay debt easily.
Even with the funding, Flowdesk was not actively looking for new investments but was shown high interest from several investors, leading to the capital raise. The firm’s earlier $50 million Series B round in January 2024 valued it at $250 million. With this latest funding, the aggregate Series B funding is now $102 million.
Expansion Plans and the Crypto-Credit Desk:
Flowdesk is gearing up to take advantage of the increasing demand for the tokenization of real-world assets and it’s over the counter (OTC) derivatives operations. One key focus will be opening up a specific crypto-credit desk to bridge the gap in the market for lending services.
Beyond the crypto-credit initiative, Flowdesk is investing in proprietary trading infrastructure and enhancing compliance frameworks. Chaumont noted,
“We’re building solutions that are transparent, scalable, fast, and competitive, spanning the full spectrum of assets—from majors to meme coins, and eventually tokenized securities.”
In order to help its expansion, Flowdesk aims to double the size of its staff in a year. It will also have a new office in the United Arab Emirates to join its locations in France, Singapore, and the United States.
Regulatory Readiness and Future Outlook:
Flowdesk is proactively gearing up for the European Union’s Markets in Crypto-Assets (MiCA) regime, keeping it well-placed to serve the changing crypto market in Europe. The company’s regulatory compliance is a testament to its vision to be a leader in the institutional crypto trading segment while being transparent and scalable.
With this new capital, Flowdesk will be accelerating its vision to bridge the old financial world and the fast-developing crypto economy, solidifying its position as a leading global digital asset player.
For more insights and updates on Metaverse, DeFi, Blockchain, NFT & Web3, be sure to subscribe to our newsletter. Stay informed on the latest trends and developments in the decentralized world!
When it comes to being nerdy with style, the folks at Heroes & Villains have a sleek assembly of clothing and gear that make it easy to show your love for your favorite movies and TV shows without overdoing it. They’ve long been a staple of our massive holiday gift guides for years, and we featured a killer “Deadpool & Wolverine” collection in 2024. Basically, they’ve always got something cool to make getting dressed up or going on vacation feel like an adventure, especially if it’s to a galaxy far, far away.
Today, Heroes & Villains has unveiled a new collection of “Star Wars” gear for the traveler who always seems to be moving at lightspeed, and we’re happy to exclusively debut the new items right here at /Film.
There’s a new trio of duffle bags with designs inspired by the Jedi, the Rebel Alliance, and the Galactic Empire. Plus, for those who like to keep their toiletries neatly organized instead of jumbled around like some kind of scruffy-looking nerf herder, there’s also a trio of toiletry bags (or dopp kits) that match each duffle bag perfectly. After all, no one wants to be caught on Cloud City without matching travel gear. Am I right, folks?
Take a closer look at each of the new “Star Wars” travel gear options that are available to order for Heroes & Villains starting today!
Duffle bags for smuggling or day trips to Coruscant
Heroes & Villains
First up, we have the three new Trudger Duffle Bags with designs inspired by the Jedi, Rebels, and the Empire. Each bag measures 20.5″ W X 12″ H X 12″ D, and they all have plenty of compartments for keeping everything organized, from your deodorant to your lightsaber. The top panel features an exterior zip pocket for easy access for things like keys or boarding passes and passports.
Heroes & Villains
Meanwhile, for those taking this back to a gym on Geonosis, there’s a separate shoe compartment so you don’t have to keep your clothes and sneakers in the same place. There are even vents in the shoe compartment, so you don’t have to worry about the bag smelling like a garbage masher on the detention level of the Death Star. Was that a long way to go for this reference? Sure, but I don’t care. I did it just for me.
Heroes & Villains
The interior also has a PVC pocket that make it easy to store wet swimsuits or sweaty socks, so you don’t have to worry about getting anything else in your bag wet. The back panel has a mesh pocket for towels or yoga mats (not Yoda mats). Finally, the bottom is made out of a rubberized, coated poly to keep the bag from falling apart, and it’s also easy to wipe clean.
Each bag costs $120, and they’re available to order at Heroes & Villains today.
The barrel toiletry bag is for the galaxy traveler
Heroes & Villains
Meanwhile, packing up the essentials in your barrel toiletry bag is going to make you feel like the most efficient traveler in the galaxy. Sized at 9″ W X 5″ H X 5″ D, the bag is small enough to be convenient but big enough to hold everything you need for a quick trip. First of all, the outside has a utility clip, so you can just hang it outside of any bag, rather than taking up valuable space inside any other bag.
Heroes & Villains
The larger side handle make it easy to cary from place to place, and you can hold on tighter with the webbing handle, in case you find yourself in a wretched hive of scum and villainy where the only currency is a good minty toothpaste. Inside, there are elastic straps to hold razors and toothbrushes, as well as two mesh slide pockets.
Heroes & Villains
Of course, the designs of each bag are made to go perfectly with the corresponding duffle bag of your choice. If you’re a Rebel spy, maybe you’ll want to hide your toiletry bag inside the Imperial duffle bag. Perhaps you can provide a little social commentary where the Jedi toiletry kit fits inside that of the Rebellion. Either way, you can’t go wrong with these functional and stylish “Star Wars” travel bags.
Each barrel toiletry bag will cost $36, and they’re available at Heroes & Villains right now.
GOAT Gaming has launched a TGE Qualification Checker, allowing players to confirm their eligibility for the $GG token airdrop.
This feature provides transparency for participants who competed in earlier seasons, ensuring they receive their allocations. For those who did not qualify, the platform offers opportunities to increase their share through Season 3.
Alongside the Qualification Checker, GOAT Gaming has announced a $50,000 raffle featuring rewards from notable web3 gaming projects.
Source: GOAT Gaming
What is GOAT Gaming?
Developed by Might Bear Games, GOAT Gaming is a Telegram-based gaming platform where users can engage in various games and earn rewards. The platform uses a multi-reward system, offering Crowns, raffle tickets, and XP for token airdrops. Players can exchange Crowns for USDT and $GG tokens or use them to unlock in-game benefits.
GOAT Gaming features a variety of games, including Crypto Crawler, Kitty Solitaire, Waifu Clash, In To The Moon, and Mighty Action Heroes. The platform integrates AI technology through AlphaGOATs, which are AI agents that compete in matches, generate earnings, and participate in prediction-based competitions.
The $GG token is central to the GOAT Gaming ecosystem, facilitating transactions, player rewards, and AI-driven gameplay mechanics.
Source: GOAT Gaming
How to earn with GOAT Gaming?
Players can earn rewards in several ways, with Season 3 offering additional chances to secure $GG tokens before the TGE. Key earning methods include:
Increasing Allocations: Those who missed earlier seasons or didn’t complete enough ecosystem tasks can still earn $GG by using the Boost $GG Allocation feature, which requires connecting a TON Wallet and interacting with the app.Participating in the $50,000 Raffle: Running until April 17, the raffle allows players to earn tickets by completing daily logins, referrals, and leaderboard challenges. The prize pool includes web3 tokens such as $B3, $SUPER, $YGG, $EVER, $SPHR, $TON, and $GG.Engaging in Season 3: The season extends for seven days after TGE, offering additional earning opportunities through:Spinning the Wheel for Mystery Boxes containing $GGCompleting tasks on the $GG Drop Page to earn bonus Mystery BoxesUsing Boosters to increase the final token allocation
To participate in Season 3, players must pay a small TON fee and reach Level 5 in the GOAT Gaming Telegram app.
OSgrid’s LBSA Plaza is the cross-roads of the hypergrid and a popular virtual hangout for developers, region owners, and metaverse travelers.
OSgrid has entered emergency long-term maintenance after discovering that “all IAR files have been corrupted,” the grid announced yesterday.
This is really bad news for residents who hadn’t yet had time to get their inventory backups downloaded ahead of the grid’s previously announced March 21 database reset. OSgrid will now go into immediate and indefinite closure.
“Unfortunately, the current situation has become unsustainable,” the OSgrid team stated in their announcement. “After careful analysis, it has become clear that it is no longer viable to keep OSgrid online under these conditions.”
The corruption of IAR — inventory archive — files is significant as many residents were using these files to back up their inventories ahead of the planned asset wipe. Users who hadn’t already secured their content through alternative methods may now face permanent losses.
Complete rebuild planned
In light of the new problems, the grid’s administrators have decided to completely rebuild the asset system from scratch.
Assets can include objects, clothing, textures, and other items that grid residents store in their avatar inventories. Some assets might have been purchased from OpenSim content creators and can represent a financial investment. Other assets might have been created from scratch by users, representing time, effort, and creativity. As a result, some residents might be hit hard by the loss.
“We have decided to completely rebuild the assets in a new format, in order to resolve ongoing issues and provide a much more robust and sustainable infrastructure,” the announcement stated.
Unlike the previous timeline that promised a March 28 return, the team now describes the reconstruction as “lengthy and meticulous” with no specific reopening date provided.
“We intend to take the necessary time to ensure the result is stable, functional, and, most importantly, secure,” the OSgrid team stated.
Impact on OpenSim users
This sudden closure accelerates the timeline for OSgrid users who had been planning to back up their content. Users who had been creating OARs — OpenSim archive files — of their regions or transferring items to avatars on other grids will no longer be able to access their content.
The situation particularly affects users who:
Had scheduled backups in the coming days or weeks
Were relying on the grid’s IAR export tool
Had placed items in the dedicated storage regions set up for the transition
For the broader OpenSim ecosystem, this emergency closure may increase migration pressure on other grids that had been preparing for a gradual influx of displaced users.
Kitely CEO Ilan Tochner also warns that other grids may suffer from similar data issues as they become popular and may need to revisit their backup policies.
“You have to maintain daily backups of the entire system to enable you to restore it to the last stable state,” he told Hypergrid Business. “If you don’t do this and only rely on data duplication then when a corruption occurs you won’t have uncorrupted copies of the files to restore to.”
Kitely runs daily backups for all its systems, he said, and enables Kitely region owners to request their regions be restored from those backups for any reason. This helps people recover from building accidents without needing to manually back up their regions to OAR files.
“If you’re an OSGrid user who has just lost their home, I recommend you consider the data backup policies of the grid you decide to move to,” Tochner said. “The more people use a grid the more likely it will need to make use of those backup systems.”
Kitely, the third-largest grid by land area, also serves as OpenSim’s main content marketplace.
There are currently 20,954 product listings in Kitely Market containing 41,054 product variations, 35,814 of which are exportable to other grids. Kitely Market users can have their purchases automatically delivered to avatars on other grids. Kitely Market has delivered orders to 642 OpenSim grids to date, Tochner said.
Kitely Market also provides merchants with a tool that can help their customers regain items that were bought for avatars that belong to grids that have shut down or suffered inventory loss, he said.
Volunteer support
OSgrid is operated entirely by volunteers and the management asked for community understanding during this difficult period. “It is important to remember that OSgrid is run by volunteers, all of whom are deeply passionate and committed to the platform. However, it’s also important to keep in mind that our team consists of real people, parents, and professionals with lives outside of their roles within OSgrid.”
The team promised to provide regular updates on their progress but gave no indication of how frequently these updates would come or through which channels.
OSgrid’s history of challenges
This isn’t the first major disruption for OSgrid. In 2014 and 2015, the grid experienced an extended outage lasting several months, during which significant amounts of user data were lost.
The current situation appears potentially more serious, as the grid is undergoing a complete rebuild of its asset system rather than attempting to repair existing infrastructure.
OSgrid, founded in 2007, has served as both a social hub and a technical testing ground for OpenSim development. As one of the largest hypergrid-enabled virtual worlds, its extended absence will be felt throughout the OpenSim ecosystem.
For users affected by this closure, other OpenSim grids including Wolf Territories, Kitely, and Alternate Metaverse have previously offered assistance in accommodating displaced residents.
Hypergrid Business editor and publisher Maria Korolov is a science fiction novelist. During the day, Maria Korolov is an award-winning freelance technology journalist who covers artificial intelligence, cybersecurity and enterprise virtual reality. See her Amazon author page here and follow her on Twitter, Facebook, or LinkedIn, and check out her latest videos on the Maria Korolov YouTube channel. Email her at maria@hypergridbusiness.com. Her first virtual world novella, Krim Times, made the Amazon best-seller list in its category. Her second novella, The Lost King of Krim, is out now. She is also the publisher of MetaStellar, a new online magazine of speculative fiction.
Square Enix partnership may expand to other franchises beyond Final Fantasy. Final Fantasy characters will enter Magic: The Gathering universe in 2025. Potential for more Square Enix collaborations with Magic: The Gathering in the future.
Magic: The Gathering may be embarking on crossovers with more Square Enix franchises than Final Fantasy, as the partnership has the scope to expand to different series owned by the legendary Japanese studio.
2025 will see Final Fantasy characters enter the Magic: The Gathering multiverse, through a Standard-legal set that is poised to be one of the game’s biggest crossovers to date.
Related
Magic: The Gathering x Final Fantasy Sets Already Sold Out & Put On Ebay
Many of the pre-orders for the Magic: The Gathering x Final Fantasy sets are already sold out and up on eBay.
It bears mentioning that the crossover is limited to mainline Final Fantasy games. This means no spin-off titles, like the beloved Final Fantasy Tactics, or games that have crossed over with Final Fantasy in the past, like Dragon Quest.
The door hasn’t closed on more Square Enix collaborations in the future, as Wizards of the Coast franchise VP Rebecca Shepard discussed with Gamespot that fans could see more crossovers in the future.
Square Enix Is Open To More Magic: The Gathering Crossovers
Shepard talked about the current relationship between Wizards of the Coast and Square Enix. “I don’t think there’s ever an end to any partnership. Even if the product is done and we don’t reprint it anymore because the term of the contract expired, we still stay in contact.”
Shepard continued, “So much like any other partnership, we can revisit it like we revisit our own worlds. I’m not confirming something is in the works here, but it’s likely a matter of ‘when,’ not ‘if.'”
Related
D&D’s Next Magic: The Gathering Crossover Is Set In Lorwyn-Shadowmoor
The next Dungeons & Dragons x Magic: The Gathering crossover book takes players to Lorwyn-Shadowmoor.
The big question is – what Square Enix franchises would make for great Magic: The Gathering crossovers? In Japan, that answer would be Dragon Quest, but that series isn’t as big internationally and might not be seen as much of a draw.
While many people would think Kingdom Hearts is the next logical step, the big issue is that it’s co-owned by Disney, which has its own card game that it’s promoting, so it might not be as willing to play ball for a crossover.
Square Enix has a ton of smaller franchises that could step up, but none that would fit as well as Final Fantasy does in Magic: The Gathering.
Next
Magic: The Gathering’s Spider-Man Set Won’t Have Popular Decks
The upcoming Marvel’s Spider-Man x Magic: The Gathering crossover won’t have an incredibly popular deck type.
Published: March 05, 2025 at 5:44 am Updated: March 05, 2025 at 5:44 am
by Ana
Edited and fact-checked:
March 05, 2025 at 5:44 am
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read original article for precise information.
In Brief
Aave’s Stani Kulechov announced the proposal to launch sGHO, a low-risk savings product, introducing the Aave Savings Rate.
Founder and CEO of the decentralized finance (DeFi) lending protocol Aave, Stani Kulechov announced the proposal to launch the sGHO savings product, introducing the Aave Savings Rate (ASR).
sGHO is a new low-risk savings product that allows users to earn yield on GHO, based on Aave’s native lending rate and an incentivized rate partially derived from GHO borrowing revenue. There are no deposit or withdrawal fees associated with it.
Stani Kulechov highlighted that he anticipates sGHO to increase GHO’s outstanding value to between 300M and 500M. For context, each 100M GHO generates the same revenue for the Aave DAO as 1B USDC. The introduction of sGHO will provide Aave users with a stable on-chain savings rate and serve as an attractive entry point for new users into the Aave ecosystem.
Aave is proposing to create sGHO savings product by introducing Aave Savings Rate (ASR).
sGHO is a new low-end risk profile savings product for earning yield on GHO based on native aave lending rate and incentivized rate collected partially from GHO borrow revenue. No withdrawal…
— Stani.eth (@StaniKulechov) March 5, 2025
According to the proposal, Aave’s GHO stablecoin has experienced strong growth in 2025, now ranking as the 20th largest stablecoin. While growth has been consistent so far, increasing from 200M to over 300M presents new challenges that will require a different strategy.
The stkGHO token rewards users for contributing to the protocol’s security, and has played a key role in GHO’s growth, currently representing 67% of its circulating supply. Following the Umbrella upgrade, stkGHO will remain essential to Aave Protocol’s security and is expected to adjust in size to align with the protocol’s security requirements.
By aligning the size of stkGHO with Aave Protocol’s security needs, Aave has the opportunity to offer a range of yield products serving different risk profiles. This opens the door for the Aave DAO to introduce a new low-risk savings product, which is anticipated to drive the next phase of GHO’s growth and adoption.
Key Advantages Of sGHO: Compounding ASR, No Rehypothecation For Instant Liquidity, Minimal Smart Contract Risk, And More
By depositing GHO into sGHO, users can earn the ASR, represented by an ERC-20 receipt token that accrues value over time. This token is easily integrated with other protocols.
sGHO is funded by revenue generated from the Aave Protocol and is specifically designed to offer the lowest-risk profile among Aave DAO’s yield products.
The key benefits of sGHO’s design include compounding interest through the ASR, no rehypothecation to ensure instant liquidity, a minimal smart contract risk surface, and no deposit or withdrawal fees. The ASR is configurable, providing the DAO with flexibility to offer either a fixed or variable rate that adjusts according to broader market conditions.
The detailed proposal aims to gather feedback from the community. If consensus is achieved on the Temperature check proposal, it will move to the Snapshot stage. If the Snapshot outcome is positive, the proposal will proceed to the Aave Request for Final Comments (ARFC) stage.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
11 bit studios latest game Frostpunk 2 was recently rated Steam Deck Playable by Valve, with the developer noting they are working towards getting it bumped up to Verified.
Writing in a post on Steam the developer announced:
We’re glad to inform that Frostpunk 2 is playable on Steam Deck!
The Story Mode is fully stable and playable, with solid performance. Thanks to your feedback, we’re aware that Utopia Builder mode has some UI issues, and late-game saves might take longer to load.
We’re working on further performances and an official control layout fixes to earn the Steam Deck Verified badge ✅
Nice to see another developer keen to improve their game.
More about it: “Frostpunk 2 elevates the city-survival genre to a new level. Take the role of a Steward and lead your city through a cascade of calamities taking place in a postapocalyptic, snowy setting. Build large city districts with their string of endless needs and demands. Navigate through conflicting interests of factions that populate your metropolis. As the needs of the city grow and factional power at its core rises, only you can steer the society towards an uncertain future.”
The developer also updated their roadmap recently to note on May 8th a free major content update will arrive, along with the Spectrum DLC sometime in August.
Hey there! Today, I’m thrilled to dive into the fascinating life of Carol Channing, a name synonymous with Broadway magic, infectious comedy, and a voice that could light up a room. With her larger-than-life persona and undeniable talent, Carol Channing became an iconic figure in American entertainment. Let’s embark on this journey to explore her life, career, and net worth.
Name
Carol Elaine Channing
Occupation
Actress, Comedian, Singer, Dancer
Date of Birth
January 31, 1921
Birth Place
Seattle, WA
Country
United States
Net Worth
$25 million (estimated)
Source of Income
Acting, Singing, Endorsements
Height
5’9″ (175 cm)
Weight
135 lbs (61 kg)
Ethnicity
Caucasian
Parents
George Channing, Adelaide Channing
Siblings
None
Spouse
Harry Kullijian (m. 2003–2011)
Children
Channing Carson
Education
Lowell High School, Bennington College
Early Life and Background
Carol Elaine Channing was born on January 31, 1921, in Seattle, Washington. From a young age, it was clear that Carol had a flair for the dramatic. Her parents, George and Adelaide Channing, were supportive of her budding talent. Little did they know that their daughter would go on to become a Broadway legend.
Growing Up
Carol’s childhood was filled with a mix of joy and challenges. Her family moved to San Francisco, where she attended Lowell High School. It was here that she began to cultivate her passion for performing arts. She later attended Bennington College in Vermont, where she majored in drama and dance. Her unique voice and comedic timing quickly set her apart from her peers.
Rise to Stardom
Carol Channing’s big break came in 1949 when she starred in the musical “Gentlemen Prefer Blondes.” Her portrayal of Lorelei Lee was nothing short of sensational. The song “Diamonds Are a Girl’s Best Friend” became her signature number, and her performance catapulted her to stardom.
Hello, Dolly!
If there’s one role that defines Carol Channing’s career, it’s Dolly Gallagher Levi in “Hello, Dolly!” Premiering in 1964, this musical was a massive success, and Channing’s performance was legendary. She played Dolly more than 5,000 times over the years, earning her a Tony Award for Best Actress in a Musical.
Film and Television
Though Carol was primarily known for her stage work, she also made her mark in film and television. She starred in movies like “Thoroughly Modern Millie” (1967) and made numerous TV appearances, showcasing her versatility as a performer.
Personal Life
Carol Channing was married four times. Her most notable marriage was to Harry Kullijian, whom she married in 2003. The couple remained together until Harry’s death in 2011. Carol had one son, Channing Carson, from her second marriage to Alexander Carson.
Later Years
In her later years, Carol continued to perform and make public appearances. She was a staunch advocate for arts education and often spoke about the importance of the arts in schools. Despite her declining health, she remained a vibrant and beloved figure in the entertainment industry.
Net Worth
Carol Channing’s net worth at the time of her death in 2019 was estimated to be around $25 million. This wealth was accumulated through her successful career in theater, film, and television, as well as various endorsements and public appearances.
Real Estate and Investments
Carol owned several properties, including a beautiful home in Rancho Mirage, California, where she spent her final years. Her investments in real estate and other ventures contributed significantly to her net worth.
Legacy
Carol Channing received numerous awards throughout her career, including three Tony Awards, a Golden Globe, and a Grammy Lifetime Achievement Award. She was also inducted into the American Theater Hall of Fame in 1981.
Cultural Impact
Carol Channing’s impact on the world of entertainment is immeasurable. Her unique voice, comedic genius, and larger-than-life personality left an indelible mark on Broadway and beyond. She inspired countless performers and continues to be celebrated for her contributions to the arts.
Conclusion
Carol Channing’s life was a testament to the power of talent, determination, and a love for the arts. From her humble beginnings in Seattle to her triumphant performances on Broadway, she captured the hearts of audiences around the world. Her legacy lives on, reminding us that true stars never fade away.
Yuga Labs announced that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into the company.
The NFT firm shared the update on March 3 in a post on X (Twitter), stating that after more than three years, “the SEC has officially closed its investigation into Yuga Labs.”
The post also described the decision as “a huge win for NFTs and all creators pushing our ecosystem forward,” adding, “NFTs are not securities.”
The SEC began investigating Yuga Labs in 2022 to determine whether certain NFTs qualified as securities under U.S. law. At the time, regulators were scrutinizing several major players in the Web3 space.
Yuga Labs is behind some of the most well-known NFT collections, including the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club. The company also acquired the rights to CryptoPunks, one of the earliest NFT collections, which had sold for significant sums in the past.
You Might Be Interested In
However, its major collection, BAYC, has struggled in recent years, in part due to regulatory uncertainty and SEC actions. In April 2023, it saw a sharp drop in floor prices, reaching its lowest level since 2021.
By September, some BAYC NFTs had lost up to 80% of their value. BAYC #5115, for example, sold for 11.24 ETH (around $27,353), far below its purchase price of 51.15 ETH ($233,653) three years earlier.
Despite the downturn, the SEC’s decision to close investigations into NFT-related cases could bring some optimism to the market. Last month, the SEC also ended its probe into OpenSea, dropping allegations that NFTs were unregistered securities.
However, other NFT projects have faced regulatory actions. CyberKongz and Immutable were also targeted, each receiving a Wells notice from the SEC. The Flyfish Club, an NFT-based dining venture, settled with the SEC for $750,000 in September 2024 over claims of offering unregistered securities.
Impact Theory, a media company, was fined $6.1 million in 2023 for its “Founder’s Keys” NFT series. Other cases include Stoner Cats, which paid a $1 million penalty, and Dapper Labs, which settled a lawsuit over NBA Top Shot NFTs for $4 million
In brief
Warren pressed OCC Comptroller Jonathan Gould to share the unredacted charter application for World Liberty Financial, citing foreign ownership and national security...
![Traverse The Galaxy With Stylish Star Wars Duffle Bags & Travel Gear From Heroes & Villains [Exclusive] – SlashFilm](https://i3.wp.com/www.slashfilm.com/img/gallery/travel-the-galaxy-with-stylish-star-wars-duffle-bags-dopp-kits-from-heroes-villains-exclusive/l-intro-1741155367.jpg?w=640&resize=640,0&ssl=1 "Traverse The Galaxy With Stylish Star Wars Duffle Bags & Travel Gear From Heroes & Villains [Exclusive] – SlashFilm")
Source: GOAT Gaming
