LBRY to Shut Down After Losing SEC Lawsuit and Accumulating Debt
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LBRY says they will shut down after losing judgment against SEC and accruing millions in debt.
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LBRY was originally ordered to pay $22M to SEC but this was reduced to $111k.
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LBRY filed an appeal against SEC in September but is now dropping it.
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LBRY executives, employees and board members have all resigned.
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Crypto community paid tribute to LBRY's contributions over its 8-year history.