Coinbase launches a $6M fund to support NFT projects against SEC scrutiny
Coinbase’s political advocacy group, Stand With Crypto, has established the Creator Legal Defense Fund to promote non-fungible token (NFT) initiatives. The $6 million fund, funded by venture capital firm a16z and NFT marketplace OpenSea, is in reaction to increased regulatory scrutiny, including a Wells notice issued to OpenSea by the US Securities and Exchange Commission. The fund’s goal is to defend the crypto community and urge creators to resist “misguided