Last year a court reached a verdict in the SEC v. LBRY case for offering unregistered securities.  The court ruled in favor of the SEC, claiming that the company was offering unregistered securities.   The SEC claimed that LBRY raised over $11M in crypto, which it argued was an investment contract and should be classified as a security. LBRY rejected the SEC's argument by saying the token, LBC, is not a security since it had no initial coin offering (ICO). The SEC won the case on Nov. 7, 2022, after a judge sided with the SEC and deemed the token a security.  LBRY wrote in a statement on Twitter soon after the verdict was passed, saying the company "will likely be dead in the near future." LBRY appealed on Jan. 30, 2023.  Judges made it clear that the judgment was only for selling the project's token directly; the LBRY v. SEC verdict will likely drive a more anticipated ruling in the XRP lawsuit.