Theta Network

Coin

For a long time, news regarding <a href="https://en.coin-turk.com/smart-layer-introduces-enhanced-erc-404-application-to-empower-token-holders/" data-wpel-link="internal">cryptocurrency</a> lawsuits appeared with themes like “case dismissed” or “investigation closed.” Contrary to this trend, a new fraud case has unfolded today involving one of the prominent <a href="https://en.coin-turk.com/cardano-ada-price-analysis-is-it-too-late-to-invest/" data-wpel-link="internal">altcoins</a>. This lawsuit is noteworthy as it was initiated by former employees of the company, citing serious allegations.
<h2 id="theta-coin-lawsuit">Theta Coin Lawsuit</h2>
Two former employees of Theta Labs Inc. have made significant allegations in a lawsuit filed today in the California Superior Court, Los Angeles County. According to them, Mitchell Liu, the CEO of Theta Labs in recent years, engaged in speculation to inflate the value of <a href="https://en.coin-turk.com/institutional-demand-drives-growth-in-spot-bitcoin-and-ethereum-etfs/" data-wpel-link="internal">crypto</a> products. Liu had reportedly collaborated extensively with major Hollywood studios and celebrities, including Katy Perry, to enhance his project’s visibility.
The serious claims made by former employees could pose challenges for Theta, as these kinds of lawsuits have a higher potential for calling additional witnesses. Currently, Theta has not experienced significant price fluctuations, but as the legal process unfolds, these allegations could exert pressure on Theta’s market performance.
<h2 id="theta-coin-developments">Theta Coin Developments</h2>
On the same day as the lawsuit filing, the team announced the Theta Network’s EdgeCloud upgrade. This significant infrastructure enhancement now coincides with the lawsuit and parallels the cost of new NVIDIA H200 GPUs. WilliamLogan commented on the developments:
<blockquote>
 “The EdgeCloud upgrade of Theta Network provides 2.5 times faster AI training and inference speeds with 141 GB of VRAM. This advancement increases capacity and efficiency for developers and businesses utilizing the platform. With support from corporate validators like Sony Europe, Theta continues to improve decentralized video streaming and edge computing infrastructure.”
</blockquote>
Therefore, December 16 signifies both a positive and negative development for Theta. Looking at the chart, the price remained almost stable above the $0.317 support throughout the day.
<img loading="lazy" decoding="async" class=" wp-image-511777 aligncenter" src="https://eduoh6ynr4t.exactdn.com/wp-content/uploads/2025/12/THETAUSDT_2025-12-16_19-45-48.jpg?strip=all" alt="" width="1275" height="610">
Theta Coin has made lower peaks in March and December 2024, and during 2025, it has failed to maintain stability above $1.03. It couldn’t surpass even the peaks above $3 from the previous year, dropping to $0.2 on October 10. This level was last seen in September 2020.
If the lawsuit begins negatively impacting the chart or if overall market selling accelerates, Theta could test the next support point from 2020, which stands at $0.118.
The post <a href="https://en.coin-turk.com/theta-faces-legal-storm-over-fraud-allegations/" data-wpel-link="internal">Theta Faces Legal Storm Over Fraud Allegations</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Theta Faces Legal Storm Over Fraud Allegations

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