\u200b\u200bWelcome to the latest edition of Cointelegraph\u2019s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights.<\/p>\n
In this week\u2019s newsletter, the United States Securities and Exchange Commission (SEC) registered its first unregistered securities sales claim against nonfungible token (NFT) offerings. An OpenSea manager accused of insider trading was sentenced to three months in prison and fined $50,000, and Trump NFT prices shot up after the former U.S. president\u2019s mugshot went viral.<\/strong><\/p>\n The SEC has charged a media and entertainment company with conducting unregistered securities sales when it sold NFTs to investors between October and December 2021. <\/p>\n Impact Theory, a Los Angeles-based company that produces entertainment and educational content, including several podcasts, allegedly raised almost $30 million through the sales of NFTs called Founder\u2019s Keys, which were offered in three tiers.<\/p>\n Continue reading<\/strong><\/p>\n A federal judge has sentenced former OpenSea product manager Nathaniel Chastain to three months in prison for wire fraud and money laundering related to insider trading on the platform.<\/p>\n In an Aug. 22 announcement from the U.S. Department of Justice, U.S. Attorney Damian Williams said Chastain had been sentenced to three months in prison, three months of home confinement and three years of supervised release in addition to being ordered to pay a $50,000 fine and forfeit ill-gotten Ether (ETH) from the NFT trades. Inner City Press reported he would be required to surrender himself on Nov. 2, with Chastain\u2019s lawyers planning to appeal the decision and request bail.<\/p>\n Continue reading<\/strong><\/p>\n NFT marketplace Rarible has seen a substantial uptick in trading volume during the 24 hours following a public statement in support of maintaining NFT creator royalties. <\/p>\n It comes as competitor NFT marketplaces such as OpenSea have reversed support for royalties and royalty enforcement \u2014 prompting other NFT projects to also begin rewinding support for OpenSea. Data from the analytics platform DappRadar shows that 24-hour fiat trading volume on Rarible jumped nearly 585% \u2014 reaching over $45,000 on Aug. 23.<\/p>\n Continue reading<\/strong><\/p>\n The price of NFTs featuring Donald Trump surged after news outlets released a photo of the former U.S. president as part of his criminal case in the state of Georgia for allegedly attempting to subvert the will of voters in the 2020 election.<\/p>\n According to data from NFT marketplace OpenSea, the floor price of Trump\u2019s line of digital trading cards first released in December 2022 increased more than 62% from 0.138 to 0.224 Ether on Aug. 24, shortly after the former president\u2019s mugshot became public. The image, which shows Trump looking angrily at the camera amid his surrender at the Fulton County Sheriff\u2019s Office, has gone viral as the first mugshot of a current or former U.S. president facing criminal charges.<\/p>\nSEC charges podcaster in first unregistered securities sales claim against NFT offering<\/h2>\n
OpenSea manager accused of insider trading sentenced to 3 months in prison, $50,000 fine<\/h2>\n
NFT marketplace Rarible sees uptick after commitment to royalties<\/h2>\n
Donald Trump NFT prices spike following release of mugshot in Georgia criminal case<\/h2>\n