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Will Flyfish Club receive a new SEC investigation by September 17, 2025?
3
Resolution / Starting Odds
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Official announcements from the SEC or major news outlets
Story
Flyfish Club, Backed by Gary Vaynerchuk, Settles with SEC Over NFT Violations, Pays $750,000 Fine
Sep 16, 2024, 11:48 PM
Flyfish Club, a planned private dining club and restaurant in New York City, has settled with the U.S. Securities and Exchange Commission (SEC) over alleged violations related to the sale of non-fungible tokens (NFTs). The club, supported by entrepreneur Gary Vaynerchuk, sold NFTs as the exclusive means of accessing the yet-to-be-built venue. Between August 2021 and May 2022, Flyfish Club raised $14.8 million by selling approximately 1,600 NFTs. The SEC deemed these NFTs as unregistered crypto asset securities, leading to a $750,000 fine. As part of the settlement, Flyfish Club agreed to destroy all NFTs and cease accepting related royalties.
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Binance • 25%
Coinbase • 25%
Ripple • 25%
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