Summary
- A U.S. federal court in California reportedly dismissed an investor lawsuit against Yuga Labs.
- The court said it ruled that BAYC non-fungible token and ApeCoin (APE) are not securities.
- It reported that after the ruling ApeCoin was trading at 0.5691 dollars, up 2.09% from the previous day.
A U.S. federal court in California dismissed an investor lawsuit against Yuga Labs.
On the 4th (local time), according to Wu Blockchain, the court dismissed the investor lawsuit filed against Yuga Labs, saying the plaintiffs failed to prove the three requirements of the Howey test and ruled that the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) and ApeCoin (APE) are not securities.
Meanwhile, after the ruling ApeCoin showed a slight increase. Currently on CoinMarketCap, ApeCoin is trading at 0.5691 dollars, up 2.09% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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