The practice recently motivated a 45-year-old NFT trader to plead guilty to tax evasion. He neglected to report over $13 million in income he made on trading non-fungible tokens (NFTs). This case signals the Internal Revenue Service’s (IRS) increased scrutiny toward trading in digital assets. It illustrates their deep desire...
The NFT market is currently experiencing the most significant crash to date. This decline is largely due to increased regulatory scrutiny and high-profile instances of tax evasion. This digital bear market largely masks the deeper issues plaguing the digital asset ecosystem. That said, it highlights the importance of compliance and...
Nike is facing a lawsuit from crypto investors who allege the apparel giant executed a "rug pull" following the abrupt closure of its metaverse project, RTFKT Studios, in December. The plaintiffs are asking for more than $5 million in damages. They point to consumer protection law violations in New York,...
Grass (GRASS) is disrupting the crypto world! It was this recent listing on Bithumb that created the initial excitement, but now everyone is talking about the prospect of a listing on Binance. The DePIN project prototype created by Wynd Network on Solana allows users to share their spare internet bandwidth...
Nike (NKE) is $57.62, but the stock has a big upside projected by analysts. The consensus one-year average price target for Nike is $75.67, suggesting a potential increase of 31.32% from its current level. This forecast is a testament to analysts' faith in Nike’s ability to rebound and perform, even...
Noves and Mint Blockchain have been working together to make NFT transfers easier and more transparent. The partnership aims to make blockchain technology more accessible to a wider audience by integrating readable data layers and transaction simulations. This pilot project aims to substitute confusing code language with plain English messages,...
NFT sales have taken a significant nosedive, falling down to just $89.4 million. Underlining this general downturn, within that very same time frame, CryptoPunks themselves have experienced an incredible comeback, with skyrocketing sales increasing by 106%. This mixed bag of activity is testament to the volatile and fluid nature of...
Pudgy Penguins saw the most massive price increase of 683.34%, climbing up to $0.010. This increase was an increase of more than 167% from its bottom this month. The digital token is still comfortably above the strong support zone around the previous cap of $0.0075. The rally came as a...
OpenSea has returned to NFT marketplace dominance, in the face of an industry-wide decline in NFT sales volumes. And indeed, the platform has experienced unprecedented user growth and trading volume, sealing its fate as a market leader. The comeback comes on the heels of yet another highly hyped launch of...
Online sports book DraftKings has settled a class-action lawsuit over its Reignmakers NFTs for $10 million. In March 2023, representative plaintiff Justin Dufoe filed suit. He claimed that these NFTs warrant the status of investment contracts under U.S. securities law. On February 28, 2025, the settlement was granted preliminary approval....