As per a Bloomberg report, Yuga Labs is currently facing an investigation from the United States Securities and Exchange Commission (SEC) on the legality of the sales of its high-value NFT offerings. Most notably pieces from the renowned Bored Ape Yacht Club collection that’s turned PFP NFTs into a Web3 household name. Best-known in the NFT space for creating the Bored Ape Yacht Club NFT collection, Yuga Labs has used the success of its flagship project to build a burgeoning media empire. This is a developing story and will be updated as new information becomes available.
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