LBRY Inc.Shuts Down Due to Millions in Debt Owed to the SEC, Other Parties
LBRY Inc., the creators of the LBRY blockchain, has announced that it will be shutting down due to several million dollars of debt owed to the SEC, its legal team, and a private debtor. The company had previously announced its intention to wind down in July after losing a judgment to the SEC. Despite initially filing an appeal, LBRY has now decided to cease its appeal and will no longer continue its operations.
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LBRY Inc.Shuts Down Due to Millions in Debt Owed to the SEC, Other Parties
LBRY Inc., the creators of the LBRY blockchain, has announced that it will be shutting down due to several million dollars of debt owed to the SEC, its legal team, and a private debtor. The company had previously announced its intention to wind down in July after losing a judgment to the SEC. Despite initially filing an appeal, LBRY has now decided to cease its appeal and will no longer continue its operations.