NFT Purchasers Sue Nike Over Alleged Crypto Scam

Nike is going through a category motion grievance in New York federal court docket by non-fungible token purchasers who claimed the company hyped a undertaking with just lately acquired RTFKT to draw investor cash, solely to see the NFT subsidiary shut down, leaving consumers “decimated” with nugatory crypto property.

And the allegations over the sale of unregistered securities and misleading practices would carry extra authority if the Securities and Trade Fee had not shifted its regulatory stance underneath the Trump administration on what constitutes a safety, based on Nicolle Lafosse, a digital asset lawyer on the worldwide regulation agency Diaz Reus in Miami.