Bitcache’s Unpaid Legal Fees
A New Zealand-based crypto startup, Bitcache, promoted by Kim Dotcom, has been liquidated due to unpaid legal fees. The liquidation comes years after its launch and without achieving its objectives. The startup aimed to revolutionize how online content creators get paid. Here are the key points:
- Bitcache, a crypto startup backed by Kim Dotcom, has been liquidated over unpaid legal fees.
- The company did not contest the decision to liquidate.
- Bitcache failed to launch since its planned release in 2017.
- The startup last filed a return to the Companies Office in 2021.
- Bitcache is likely to be removed from the Companies Register.
Despite the initial hype and support from Kim Dotcom, Bitcache’s failure to pay its legal fees resulted in its liquidation. The startup’s inability to launch and achieve its goals ultimately led to its downfall. It serves as a reminder that even promising ventures in the crypto space can face challenges and financial difficulties. It’s crucial for crypto startups to manage their financial obligations and prioritize legal compliance to avoid such outcomes.
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