LBRY lawsuit
LBRY says it ‘will likely be dead’ following SEC loss
The firm behind the decentralized content platform LBRY said its days are likely numbered following its recent loss against the United States Securities and Exchange Commission (SEC) in court. It is specifically LBRY Inc that must die, the LBRY protocol and blockchain will continue. pic.twitter.com/SWwbqTq9In — LBRY (@LBRYcom) November 29, 2022 The SEC initially took LBRY Inc to court in Mar. 2021 over its LBRY Credit (LBC) tokens, alleging that the firm had been conducting unregistered securities offerings since 2016. The SEC ultimately won that battle last month on Nov. 7, after a judge deemed the tokens to be securities in a major blow to the industry. Providing an update on the state of the business via Twitter on Nov. 30, LBRY Inc explained that the company “will likely be ...
