THETA Price Falls to 2020 Levels Amid Whistleblower Lawsuits

THETA has returned to 2020 price levels, trading at $0.3278, a 97.95% decline from its all-time high above $15. The altcoin fell 21% in the past month, indicating a long-term downtrend.

The weekly chart shows a distribution structure with recovery attempts capped by a descending trendline since the 2021 peak.
The failure to establish higher lows during market recoveries suggests previous rallies were emotion-driven.
Lawsuits from former executives Jerry Kowal and Andrea Berry accuse Theta Labs of deceptive practices related to THETA and NFTs.
The allegations include internal concerns about token sales and governance, retaliation against reform efforts, and promotional activities to artificially inflate prices.
Celebrity marketing and disputed partnerships, such as those involving Katy Perry and Google, are criticized for creating speculative interest rather than genuine adoption.

The lawsuits and ongoing price performance issues cast doubt on the stability and future growth potential of THETA.