“Since any information given privately to the SEC ends up leaking, we’d like to be upfront about the fact that LBRY Inc. will likely be dead in the near future,” the company behind blockchain publishing platform LBRY said via Twitter yesterday. 

It added: “We expect the LBRY mission to continue on, but the company itself has been killed by legal and SEC debts.”

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.   

In March of last year, the SEC alleged that LBRY received $12.2 million from the token sales—but didn’t register it as a security.