Federal Judge: DraftKings Customer Plausibly Shows Company’s NFTs Are Securities

(July 8, 2024, 1:58 PM EDT) -- BOSTON — A federal judge in Massachusetts held that a customer of an online sports gambling company adequately showed that nonfungible tokens (NFTs) sold by the company are a security under a long-standing test, denying a motion from the company and certain of its executives to dismiss the customer’s putative class complaint alleging that the company sold unregistered securities in violation of federal law....