EdgeCloud upgrade boosts AI processes, but legal concerns may impact prices.
Summarize the content using AI
ChatGPT
Grok
ContentsTheta Coin LawsuitTheta Coin
For a long period, the news about lawsuits related to cryptocurrencies usually ended with “the case was dismissed, the investigation ended.” However, today, a new fraud lawsuit was filed against one of the prominent altcoins. This lawsuit, quite serious, involves significant allegations directly from former employees of the company.
Theta Coin Lawsuit
Two former employees of Theta Labs Inc. have made significant allegations in a lawsuit filed today in the California Superior Court, Los Angeles County. They claim that Mitchell Liu, who has been the CEO of Theta Labs for the past few years, engaged in speculation to increase the value of crypto products. Liu reportedly collaborated with major Hollywood studios and celebrities, including Katy Perry, to enhance the project’s visibility.
The fact that these severe allegations come from former employees may turn against Theta since they might find more witnesses to support their claims. Although Theta has not yet shown significant price movement, the ongoing process might turn these allegations into pressure on the market charts.
Theta Coin
Today, the team announced EdgeCloud’s upgrade for the Theta Network. This major infrastructure upgrade, coinciding with the lawsuit filing, introduces NVIDIA H200 GPUs at the same price as the H100. W1lliamLogan commented:
“Theta Network’s EdgeCloud upgrade provides AI training and inference speeds 2.5 times faster with 141 GB of VRAM. This breakthrough increases capacity and efficiency for developers and businesses utilizing the platform. With support from corporate validators like Sony Europe, Theta continues to enhance its decentralized video streaming and edge computing infrastructure.”
Thus, December 16 holds both good and bad news for Theta. Looking at the graph, the price remained nearly constant above the $0.317 support throughout the day.
Theta Coin, which made lower peaks in March and December 2024, couldn’t maintain stability above $1.03 throughout 2025. The altcoin, unable to even surpass its peaks over $3 from the previous year, saw $0.2 during the October 10 decline, a level it last encountered in September 2020.
If the lawsuit begins to negatively impact the market charts or if overall market sell-offs accelerate, Theta might test the next support level of $0.118, similar to 2020.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
