Coinbase-Linked Organization Establishes Legal Aid Fund for NFTs
Publication Time:2024-09-14 04:31:08
Golden Finance Report: The non-profit organization Stand With Crypto, led by Coinbase, has announced the establishment of a program called the 'Creator Legal Aid Fund,' with a total fund of $6 million aimed at providing legal protection and support for NFT projects. This fund is funded by venture capital firm a16z and NFT marketplace OpenSea. According to information on the Stand With Crypto website, well-known law firms such as Fenwick & West LLP, Goodwin Procter LLP, and Latham & Watkins LLP are also involved in this initiative. Given that the U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to OpenSea and launched other attacks against artists and creators, this move is especially urgent. Stand With Crypto stated that this action aims to protect the foundational part of the cryptocurrency community and provide a shield for creative individuals against misleading legal actions.
NFT
Coinbase
Legal Aid Fund
Creator Protection