Debt-burdened LBRY decided not to continue a fight against the SEC at the First Circuit, where it sought to reverse a lower court holding that its cryptocurrency was a security.
“LBRY Inc. is winding down,” the blockchain-based content-sharing platform said on X, formerly known as Twitter, before notifying the appeals court of its voluntary dismissal. The appeals court entered judgment Monday and closed the case.
LBRY Inc. is winding down.
— LBRY 🚀 (@LBRYcom) October 19, 2023
The LBRY network is unaffected.
Odysee and other assets will undergo a legal process to satisfy debts, but Odysee has a bright future ahead.
Thank you to everyone who fought with us for online freedom.
A final goodbye post is in the first reply.
The federal district court in New Hampshire said in November 2022 that LBRY violated US law by selling its blockchain token without registering its offerings with the agency. LBRY’s digital token—LBC, or LBRY Credits—was offered ...
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