In an Oct. 27 statement, Peirce described feeling “unsettled” following the SEC’s enforcement action against LBRY in March 2021. In November 2022, a judge ruled in favor of the SEC, stating that the firm’s LBC token was a security. Though LBRY appealed the decision, the company announced in October that it planned to wind down, citing millions of dollars in debt due to legal costs.
Continue Reading on Cointelegraph
