for a long time with cryptocurrencies News about the case was on the theme of “the case was dropped, the investigation is over”. However, today a new fraud case was filed for one of the popular altcoins. Moreover, this case is a serious one, dealing directly with very important allegations made by former employees of the company.
Theta Coin Case
Two former employees of Theta Labs Inc. made significant claims in a lawsuit filed today in the California Supreme Court, Los Angeles County. Accordingly Theta Labs For the last few years its CEO, Mitchell Liu, has been speculating to increase the value of crypto products. To increase the visibility of her project, Liu entered into serious collaborations with major Hollywood studios and celebrities, including Katy Perry.
Having such serious allegations made by former employees may not have good consequences for Theta due to the potential for finding more witnesses in their cases. Although Theta is not experiencing a serious price movement for now, the claims may turn into a pressure element on the chart in the ongoing process.
ThetaCoin
Today, the team announced Theta Network’s EdgeCloud upgrade. The major infrastructure upgrade, which coincided with the exact day the lawsuit was filed, is at the same price as the H100 NVIDIA It offers H200 GPUs. W1lliamLogan said;
“Theta Network’s EdgeCloud upgrade delivers 2.5x faster AI training and inference speeds with 141GB VRAM. This breakthrough increases capacity and efficiency for developers and businesses leveraging the platform. “With the support of enterprise validators such as Sony Europe, Theta continues to advance decentralized video streaming and edge computing infrastructure.”
So December 16 contains good and bad news for Theta. Looking at the chart, the price above the $0.317 support remained almost stable throughout the day.
Theta Coin, which made lower peaks in March 2024 and December 2024, could not achieve permanence above $ 1.03 throughout 2025. The altcoin, which could not even surpass last year’s peaks above $ 3, hit $ 0.2 in the October 10 drop. It was last at these levels in September 2020.
If litigation begins to negatively impact the chart or the market-wide sell-off accelerates, it could test the next support point in 2020 at $0.118.
