NiftyNoon: Will the SEC define the future of ETH and NFTs?

The SEC has begun cracking down on various ETH staking offerings (February 10, 2023)

Nifty Thought

Editor’s note: The content on this site is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.

• The US government’s regulation of crypto seems to be continuing with the SEC’s recent charge against Kraken for their crypto staking service. This has re-ignited questions surrounding Ethereum in a post-merge world. Does staking make Ethereum a security? The team at NiftyNoon believes this is not the case as we do not believe Ethereum fails the Howey Test. Ethereum is neither in a common enterprise nor does it rely on the work of others. Nonetheless, it is clear the SEC has set its sites on crypto once again; the industry as a whole will need to support efforts defending crypto pushed by industry leaders such as Brian Armstrong.

Project News

• Kraken agrees to shut crypto-staking service for Ethereum in SEC settlement:

  Gary Gensler @GaryGensler

  Today @SECGov charged Kraken for the unregistered offer & sale of securities thru its staking-as-a-service program. Whether it’s through staking-as-a-service, lending, or other means, crypto intermediaries must provide the proper disclosures & safeguards required by our laws.

• Coinbase CEO shares his thoughts on Kraken settlements and hints at Coinbase’s desire to push back against the SEC:

  Brian Armstrong @brian_armstrong

  Well said. There was no way to register (a disingenuous offer). “Using enforcement actions to tell people what the law is in an emerging industry is not an efficient or fair way of regulating.” https://t.co/6wVZZbQt23

  

  Hester Peirce @HesterPeirce

  My thoughts on today's Kraken settlement: https://t.co/mijt3MNN4U

• Sewer Pass scores lock delayed to February 15th:

  Bored Ape Yacht Club @BoredApeYC

  We’re taking additional time to review Sewer Pass scores. We’ll announce the final Leaderboard and official winner of the Key on Feb. 15th. Details on the updates found on mdvmm.xyz below:

  

• Local Bitcoins announces the closing of their Bitcoin trading service:

  LocalBitcoins @LocalBitcoins

  🧡💙

  

• OnChainMonkey becomes the first 10K collection to be inscribed on Bitcoin via Ordinals:

  OnChainMonkey @OnChainMonkey

  OnChainMonkey is the first 10K collection to be inscribed on Bitcoin via Ordinals! Own an ETH OCM Genesis = Owning a BTC OCM Genesis All on-chain on Bitcoin on Feb 8, 2023, and all on-chain on Ethereum on Sept 11, 2021! 🔥 🧵/8

Community News

• Jediwolf completes full set Squiggle sweep:

  Jediwolf @randomcdog

  1/ Recently I've made a big bet and acquired a full set of Chromie Squiggles (including HyperRainbow) by @ArtOnBlockchain for my collection. I wanted to share some thoughts on why I made this degen move🧵👇

  

• Yuga Labs podcast goes on hiatus in full support of Gordon Goner as he prioritizes his health:

  GordonGoner.eth (Wylie Aronow) @GordonGoner

  Felt the need to set the record straight on all this bullshit once and for all. I’ll be off Twitter for a while to focus on my heart condition. Love you all. ❤️

  

  CoinDesk @CoinDesk

  EXCLUSIVE: @yugalabs co-founder @GordonGoner penned a letter touching on his recent diagnosis of heart failure and responding to conspiracy theories about @BoredApeYC. "I’m never going to be able to let this go and heal until I set the record straight." https://t.co/V6Pp2icYHb

  The Fucking Metaverse Podcast @FvckingMeta

  The team behind TFM is in full support of @GordonGoner as he unplugs and prioritizes his health. As a result the show is taking hiatus. Stay tuned as we know more about when we might be able to return. Thanks to all of our listeners and amazing guests for joining us for Season 1.

Quick Stats:

• OpenSea Daily Volume: 7,586 ETH (▼ 16.89%)

• Blur Daily Volume: 11,792 ETH (▲ 5.82%)

• BTC: $21,675.90 (▼ 4.25%)

• ETH: $1522.31 (▼ 6.84%)

• Solana: $20.69 (▼ 8.96%)

• Polygon: $1.28 (▼3.36%)

NFT Daily Winners:

• 🐧 Pudgy Penguins: 5.10 ETH (▲ 1.96%)

• 🐈‍⬛ VeeFriends: 4.35 ETH (► 0.00%)

• 🏳️‍🌈 Chromie Squiggles: 14.25 ETH (► 0.00%)

• 🧟 Mutant Ape Yacht Club: 14.29 ETH (► 0.00%)

NFT Daily Losers:

• 🚬 CryptoPunks: 63.49 ETH (▼ 0.72%)

• 🦧 Bored Ape Yacht Club: 70.97 ETH (▼ 1.39%)

• 🌈 Doodles: 5.43 ETH (▼ 1.82%)

• ⛩️ Azuki: 12.91 ETH (▼ 3.58%)

• 🦉 Moonbirds: 6.87 ETH (▼ 4.4%)

• 🧬 Clone X: 4.53 ETH (▼ 4.76%)

• 🥃 Proof Collective: 15.70 ETH (▼ 12.14%)

• 🧝🏼‍♀️ DigiDaigaku: 9.39 ETH (▼ 12.88%)

Notes:

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• The content on this site is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.

• Managed by @AxuETH, @SSPxLEO, @xhuewa, and @SpeedyGonzale87