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What will be the outcome of the SEC's potential lawsuit against OpenSea?
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Resolution / Starting Odds
OpenSea wins • 25%
OpenSea loses • 25%
Settlement reached • 25%
Case dismissed • 25%
Publicly available legal filings and announcements from OpenSea and the SEC
Story
OpenSea Receives SEC Wells Notice; CEO Devin Finzer Pledges $5 Million Defense
Aug 28, 2024, 02:39 PM
OpenSea, a leading non-fungible token (NFT) marketplace, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). The notice indicates the SEC's intent to potentially sue OpenSea, asserting that some NFTs on the platform may be classified as securities. OpenSea CEO Devin Finzer expressed shock at the SEC's move, stating that NFTs are fundamentally creative goods and should not be regulated as securities. In response, OpenSea has pledged $5 million to defend creators and artists against the SEC's actions.
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SEC files lawsuit • 25%
Settlement reached • 25%
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SEC wins • 25%
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Classified as securities • 25%
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Other response • 25%