Blockchain firm LBRY Inc has issued its final goodbye, citing debt accumulated from its SEC court loss and legal fees grew too large to handle. The firm will no longer be pursuing an appeal against the SEC.
Blockchain company LBRY Inc. — the creators of the LBRY blockchain — has issued its final message to the crypto, citing “several million dollars” of debts that have now made it impossible for the firm to continue.
Odysee and other assets will undergo a legal process to satisfy debts, but Odysee has a bright future ahead.several millions of dollars of debt owed to the SEC, its legal team and a private debtor ended up being too big a barrier to overcome. “It wasn't a happy ending, but it was a happy journey,” the now-former CEO Jeremy Kauffman explained in an Oct. 19 X post, reflecting on LBRY’s eight-year tenure in the cryptocurrency industry.
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