TechFlow reports, on October 20, the blockchain-based file-sharing network LBRY announced it is shutting down. The LBRY network will remain unaffected, while Odysee and other assets will go through legal proceedings to repay debts.
LBRY Inc. stated it has insurmountable debts owed to the SEC, its legal team, and private creditors. Its assets, including Odysee, are now under bankruptcy administration.
All LBRY executives, employees, and board members have resigned.
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