LBRY issued a final goodbye to the crypto community before winding down operations.

Following the final judgement in LBRY’s case with the SEC, the file-sharing project has officially announced it will shutter operations.

A final goodbye post is in the first reply. — LBRY (@LBRYcom) October 19, 2023 LBRY highlights its huge pile of debt to the SEC, its legal team, and a private debtor as its reason for closing down.

The SEC has dropped its $22 million disgorgement request in its case against LBRY saying it acknowledges the firm can’t pay a large fine and is seeking just over $111,000 instead.

LBRY has filed an intent to appeal a court ruling in favor of the SEC which accused it of selling unregistered securities.

Ending its 8-year tenure in the cryptocurrency industry, Blockchain company, LBRY typed its final message in a statement on Odysee, LBRY-powered video-sharing website. The message was also shared ...