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LBRY Says Company Has Been ‘Killed by Legal and SEC Debts’

In Monday tweets, LBRY, Inc. said it had been “killed by legal and SEC debts.” In a follow-up tweet, the company made clear that it is LBRY Inc that “must die” though the “LBRY protocol and blockchain will continue.”

Earlier this month, LBRY, Inc., which set up the LBRY protocol and blockchain, lost a year-long battle with the SEC.

LBRY, Inc. CEO Jeremy Kauffman told Decrypt that the company didn’t yet have an exact figure for the SEC fine but the regulatory body was pushing for $20 million in penalties. 

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