According to @AltcoinDaily, a US court has ruled that Bored Ape Yacht Club (BAYC) NFTs and ApeCoin (APE) are not securities under federal law. Source: twitter.com/AltcoinDaily/status/1974510671284121993 For trading, first verify the case by locating the official opinion and docket before repositioning; then track APE spot and perp metrics (price, funding, open interest) and BAYC floor price and volumes to gauge any repricing of regulatory risk. Sources: pacer.uscourts.gov for court records, courtlistener.com for opinions, CoinGecko.com and Kaiko.com for token price and derivatives, OpenSea.io and Blur.io for NFT floor and volume data.