SEC drops Yuga Labs probe, Trump files NFT marketplace trademark: Nifty Newsletter

Trump-owned company DTTM Operations filed a trademark for “TRUMP” in relation to a metaverse and an NFT marketplace.

In this week’s newsletter, the US Securities and Exchange Commission (SEC) has dropped its investigation into the non-fungible token (NFT) company Yuga Labs, a company owned by US President Donald Trump filed trademarks for a metaverse and an NFT marketplace, and gambling platform DraftKings plans to settle its NFT lawsuit for $10 million. In other news, Hamster Kombat’s newly launched layer-2 network aims to support Web3 gaming. 

NFT firm Yuga Labs said the SEC dropped its investigation into the company. The NFT firm said in a post that after three years, the agency had finally closed its investigation into Yuga Labs. 

The company said this was a win for NFTs and creators, pushing the ecosystem forward. “NFTs are not securities,” Yuga Labs added. 

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