The U.S. regulator alleged that NFTs sold on OpenSea are securities, the OpenSea CEO said earlier Wednesday.
Non-fungible token (NFT) marketplace tokens Blur (BLUR) and Tensor (TNSR) dipped Wednesday after news that OpenSea had received a Wells notice from the U.S. Securities and Exchange Commission.
The U.S. regulator is alleging that NFTs sold on OpenSea are securities, OpenSea CEO Devin Finzer said earlier Wednesday.
Blur fell another 5% in the minutes following the news before a modest bounce. It’s now down 10% over the past 24 hours. Tensor, a Solana-based NFT marketplace aggregator, also traded 3% lower. The token’s price was down nearly 9% over the past 24 hours.
The broader CoinDesk 20 Index was lower by 4% over the same time frame.
Crypto markets began Tuesday evening U.S. time with a broad sell-off. Bitcoin fell below the key $24,000 level, and ether dropped below the $1,700 price point. Most major cryptocurrencies were trading in the red Wednesday morning.
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