Can Gala’s Cryptocurrency Price Recover After Co-Founders’ Legal Battle?
Gala Games Co-Founders Engage in Legal Dispute Over Token States Gala Games, the blockchain gaming project, is as of now embroiled in a lawsuit between its co-founders. On August 31st, Gala co- founder Eric Schiermeyer filed a lawsuit against fellow co- founder Wright Thurston and Thurston’s investment entity, True North United Investments, accusing them of misappropriating over 8.6 Billion GALA tokens from company wallets. These tokens were allegedly sold, resulting in $130 Million in profits. The lawsuit likewise states that Thurston acquired and sold Gala node licenses, further harming investors. As a result, Thurston filed a lawsuit against Schiermeyer, alleging corporate waste and misuse of Gala Games’ assets and funds.
Gala Games’ Uncertain Future Amid Legal Battles
The ongoing legal battles have cast a shadow over Gala Games’ future, with states of token theft, corporate mismanagement, and waste. The project’s digital currency, GALA, has experienced a whole lot of fall in price, erasing all technical gains made in 2023. GALA’s current market price is $0.016, reflecting a 0.33% decrease in the past 24 hours. The coin has likewise depreciated by 21.06% in the previous week. Gala Games claims that its day-to-day operations remain unaffected by the legal dispute, and there is hope for a probable recovery in the future. Nonetheless, if trust in Gala Games is permanently eroded, the recent downturn may indicate a prolonged period of decline.
Consider Diversifying Your Portfolio with Promising Altcoins
Given the expected downturn in GALA’s performance, it could be wise to consider diversifying your portfolio with alternative altcoins. One such altcoin to consider is Launchpad XYZ (LPX), a Web 3.0 trading platform that raised over $1.6 Million during its presale phase. Launchpad XYZ offers an array of valuable tools and resources for traders, including a Web 3.0 wallet, a play-to-earn gaming hub, trading signals, and automated trading bots. The platform’s future plans include the introduction of a decentralized exchange and an NFT marketplace. LPX, the native token of Launchpad XYZ, holds numerous objectives and is expected to provide substantial returns as the platform gains adoption.
Investing in LPX allows users to discover early access opportunities in different blockchain sectors, with the platform’s integrated A.I. tools helping assess and rank the risk-reward probable of Web 3.0 projects. In addition, investors have access to VIP trading channels and can secure NFTs through the presale, which have delivered impressive returns in previous projects. The project’s fully doxxed team and ongoing presale bonus of 18% add to its appeal. The token was attractively priced during the presale phase, with 1 LPX available at $0.0445. Consider investing in LPX for probable growth and diversification.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.