Coinbase Insights: Yuga Labs vs. Ryder Ripps NFT Trademark Case Overturned

In a significant development for the NFT space, the 9th Circuit Court of Appeals has overturned a lower court's ruling in the high-profile legal battle between Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFTs, and artist Ryder Ripps. The appellate court has mandated that Yuga Labs provide clearer evidence to support its trademark infringement claims against Ripps' RR/BAYC collection, ordering a retrial. This decision comes after Yuga Labs initially secured an $8 million judgment, which has now been nullified. The case highlights the ongoing complexities of intellectual property in the digital asset realm and could set a precedent for future NFT-related disputes. As the crypto market continues to evolve, this ruling underscores the importance of robust legal frameworks to protect creators and investors alike. Stay tuned for further updates as this case progresses.

U.S. Appeals Court Overturns Ruling in Yuga Labs vs. Ryder Ripps NFT Trademark Case

The 9th Circuit Court of Appeals has nullified a lower court's decision in the high-profile legal battle between Yuga Labs, creator of the Bored APE Yacht Club (BAYC) NFTs, and artist Ryder Ripps. The appellate court ruled that Yuga Labs must provide clearer evidence to support its trademark infringement claims against Ripps' RR/BAYC collection, ordering a retrial.

Yuga Labs had originally secured an $8 million judgment against Ripps in 2022, alleging his satirical NFT collection caused consumer confusion and violated trademark rights. The appeals court found the initial ruling insufficient, reviving debates about parody protections in digital asset markets where Ethereum-based collections like BAYC command billion-dollar valuations.

The case underscores growing tensions between intellectual property rights and creative expression in Web3 ecosystems. Market participants are closely watching how evolving legal standards may impact NFT valuation frameworks, particularly for blue-chip collections trading on platforms like OpenSea and Coinbase NFT.

Ark Invest Shifts Crypto Strategy: Sells $12M in Coinbase, Buys Ether Treasury Stake

Ark Invest, led by Cathie Wood, continues rebalancing its crypto portfolio with a $12 million sale of Coinbase shares. The move follows last week's $116 million investment in Bitmine Immersion Technologies, an ether-focused treasury firm backed by Peter Thiel.

The firm liquidated 30,501 COIN shares across two funds while also divesting $1.1 million in Robinhood stock. Additional sales included $10 million worth of Block Inc shares and $1.1 million of its Bitcoin ETF (ARKB). This strategic pivot reflects growing institutional interest in Ethereum-based infrastructure alongside Bitcoin exposure.