A former Theta executive accused the company's CEO of fraud and retaliation.

Two former executives of blockchain company Theta Labs have filed a whistleblower lawsuit in California, accusing the company and its CEO, Mitch Liu, of years of fraud, market manipulation, and retaliation. Former executives Jerry Kowal and Andrea Berry filed separate lawsuits in Los Angeles Superior Court, alleging that Liu used Theta Labs and its parent company, Silver VR Technologies, to inflate token prices through misleading collaborations and undisclosed insider token sales, while also retaliating against employees who raised concerns.