LBRY, a blockchain-based file-sharing, and payment network revealed that its days are possibly counted after its latest 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 Securities and Exchange Commission alleged LBRY in March 2021 that it is operating unlisted security offerings since 2016. The court war was eventually won by the SEC on November 7, 2022, as the judge considered the tokens to be securities in a huge blow to the industry.
On November 30, LBRY posted on Twitter describing that the firm will possibly be dead in the coming days,” although the basic protocol and blockchain will continue:
“We will like to be beforehand of the reality that LBRY Inc. will possibly be dead in the coming days. We anticipate the LBRY mission to carry on, but the firm has been destroyed by legal an
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