SEC Probing Bored Ape Creator Yuga Labs Over Unregistered Offerings: Report

Bybit
SEC Probing Bored Ape Creator Yuga Labs Over Unregistered Offerings: Report
Bybit



The SEC is also reportedly looking into how ApeCoins, the Ethereum-based governance and utility tokens used within the APE ecosystem, were distributed to holders of Bored Ape Yacht Club, Mutant Ape Yacht Club and Bored Ape Kennel Club members. The tokens were first announced in March alongside the establishment of the community-driven ApeCoin DAO and the Ape Foundation. Sixty-two percent of the fixed one billion supply of ApeCoins was allocated to the ApeCoin community, including 15% airdropped to existing NFT holders. Additional percentages of tokens were allocated to Yuga Labs and the Jane Goodall Legacy Foundation, alongside launch contributors and the four founders of Bored Ape Yacht Club.



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