Meta AI Strategy Faces Challenges as Zuckerberg Admits Mistakes in Internal Memo 
How the UK’s rollback of banking regulations could risk another financial crisis 
Ethereum Cracks Under $1,700: Sell the Rally Near $1,750 as Bears Eye $1,380–$1,200 
Wall Street Rebounds as Investors Eye Tariff Uncertainty, Jobs Report 
OpenAI Eyes Massive 10GW Ohio Data Center Campus in Potential $500 Billion AI Infrastructure Deal 
Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war? 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Infosys Shares Drop Amid Earnings Quality Concerns 
Astera Labs and Rocket Lab Surge After Nasdaq-100 Inclusion Announcement 
SpaceX IPO Set for Explosive Debut as Valuation Tops $2.2 Trillion 
FxWirePro- Major Crypto levels and bias summary 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
KiwiSaver shakeup: private asset investment has risks that could outweigh the rewards 
Exxon Mobil Set to Appoint Alex Volkov as Global Trading Chief 
Wizz Air Beats Profit Forecast as Cost Controls Offset Industry Challenges 
Stoner Cats NFTs or non-fungible tokens have been booted out from several NFT Marketplaces shortly after the United States Securities and Exchange Commission (SEC) charged the creators of the animated series for offenses related to selling unregistered securities.
According to Decrypt, Rarible and OpenSea NFT Marketplaces confirmed they imposed a ban on the Stoner Cat NFT tradings. On the other hand, Blur, a zero-fee non-fungible token marketplace that was launched in 2022, shows it has no active listing of the said NFTs created based on the adult animated program that features Mila Kunis, Ashton Kutcher, Chris Rock, and more. The said digital token was apparently taken down after the issue with the SEC surfaced.
The Ethereum-based Stoner Cats NFTs that are linked to the animated series starring high-profile celebrities were reportedly sold in 2021. Since then, they have been listed for trading in various marketplaces for digital assets. The items were only taken down recently after the show’s creators were charged last week.
In a press release, SEC’s Director of Division of Enforcement, Gurbir S. Grewal, explained the offenses committed for the Stoner Cats NFTs.
“Regardless of whether your offering involves beavers, chinchillas or animal-based NFTs, under the federal securities laws, it is the economic reality of the offering – not the labels you put on it or the underlying objects that guide the determination of what’s an investment contract and therefore a security,” he said. “The SEC’s order finds that Stoner Cats marketed its knowledge of crypto projects, touted that the price of their NFTs could increase and took other steps that led investors to believe they would profit from selling the NFTs in the secondary market.”
Meanwhile, the creators already settled with the SEC over the alleged violations for selling unregistered securities. They agreed to pay the penalty worth $1 million as a civil fine. The SEC said the money will be used to set up a Fair Fund to return money to investors.
Photo by: Stoner Cats/YouTube
