#bittorrent

The blockchain platform, founded by Bram Cohen, the creator of BitTorrent, has downsized its workforce, reducing it by 26 out of 70 employees. This development follows Chia’s 5 months filing with the SEC for its public listing, which faced setbacks due to the collapse of its banking partner, Credit Suisse. The company is also considering its first-ever token sale.

The court has granted Justin Sun additional time to respond to the SEC allegations, pushing the deadline to December 8. The SEC accuses Sun, along with Tron Foundation, Bittorrent Foundation, and Rainberry, of offering TRX and BTT tokens as unregistered securities, infringing upon U.S. legislation. Additionally, the SEC is leveling charges against Sun for manipulating the market value of TRX.