Sometimes the good guys lose. (At least temporarily.) LBRY, Inc. is shutting down due to SEC persecution.
"What’s happening to LBRY, Inc?
LBRY Inc. has debts to the SEC, its legal team, and a private debtor that it cannot pay. Its assets, including Odysee, are being placed into receivership. As of this post, all LBRY executives, employees, and board members have resigned. All will be doing what is required to satisfy any outstanding legal requirements, but no more.
What’s happening to the LBRY network?
Fortunately, LBRY isn’t our network. It’s a decentralized network, and all the code powering it is open source.
But the LBRY network might die, too. Decentralization isn’t magic – it only works if enough people use it. Could LBRY still swallow all digital publishing like we intended? Could this be the beginning of a descent to obscurity? Who knows? It’s not like we’re LBRY experts.
The truth is that even writing this post fills us with anxiety. Everything we say is being scrutinized by people with immense resources that aren’t big fans of us, free speech, or any technology that enables dissent. And if we violate another one of the United States’ incredibly clear and easy-to-follow laws, we might end up in jail."
Full link in comments.
#archer_politics
#archer_crypto
"What’s happening to LBRY, Inc?
LBRY Inc. has debts to the SEC, its legal team, and a private debtor that it cannot pay. Its assets, including Odysee, are being placed into receivership. As of this post, all LBRY executives, employees, and board members have resigned. All will be doing what is required to satisfy any outstanding legal requirements, but no more.
What’s happening to the LBRY network?
Fortunately, LBRY isn’t our network. It’s a decentralized network, and all the code powering it is open source.
But the LBRY network might die, too. Decentralization isn’t magic – it only works if enough people use it. Could LBRY still swallow all digital publishing like we intended? Could this be the beginning of a descent to obscurity? Who knows? It’s not like we’re LBRY experts.
The truth is that even writing this post fills us with anxiety. Everything we say is being scrutinized by people with immense resources that aren’t big fans of us, free speech, or any technology that enables dissent. And if we violate another one of the United States’ incredibly clear and easy-to-follow laws, we might end up in jail."
Full link in comments.
#archer_politics
#archer_crypto