Gala Games Founders in Court Over $130M Token Theft

There is a legal storm brewing in the Gala Games ecosystem after the project's co-founders, Eric Schiermeyer and Wright Thurston dragged themselves to court. The GALA Games Legal Brawl According to filings lodged with the United States District Court for the District of Utah, Eric is accusing Thurston and his company True North United Investments.

Timeline of Gala

GALA, the native token of Gala Games, is under immense selling pressure as of early September 2023. Trackers show that the token is down 72% from 2023 peaks when it soared to $0.062 in late January 2023.

Gala Games co-founders Eric Schiermeyer and Wright Thurston are suing each other, alleging Thurston stole $130 million in GALA tokens. Thurston has been sued by the SEC for fraudulent activities.

PokerGO Play integrates web3 technology for an enhanced social poker experience Maria Ho was appointed as the official PokerGO Play ambassador. PokerGO and Gala Games synergize poker entertainment with advanced Web3 expertise.

Gala Games, an acclaimed GameFi project, has ushered in a new era of online gaming, joining hands with PokerGO, the renowned Las Vegas-based poker streaming platform. The alliance paves the way for ‘PokerGO Play,' an avant-garde Web3 social poker game that promises to revolutionize the player experience.

In an unprecedented move, leading gaming company Gala Games obliterated nearly 21 billion of its (CRYPTO: GALA) tokens, equating to more than $637 million at the time of the burn. What Happened: This colossal token burn was undertaken following the completion of the V2 token airdrop from the company's reserves.

GALA News: GALA, the core utility token for Gala Games will soon be witnessing a major contract upgrade. As per than details, a new GALA V2 token will be issued 1:1 for all $GALA holders over a majority of the exchanges.

GALA V2 News: Gala Games ecosystem will soon be going under a massive contract upgrade where holders will be issued new $GALA V2 tokens on a 1:1 basis for all $GALA. Binance, the world's largest crypto exchange has decided to support the Gala (GALA) contract swap when Coinbase chooses to stay away from it.

Gala Games, a Web3 gaming startup, is set to launch an upgraded GALA token on May 15 through an airdrop to existing token holders. However, major cryptocurrency exchange Coinbase has decided not to support the transition.

Gala V2 News: GALA, the core utility token for Gala Games price is on a downward trend over the past 3 months. However, this decline might continue ahead as Coinbase, the U.S. biggest crypto has decided to deprecate existing Gala V1 and not to support the Gala V2 airdrop.

A key investor in the Web3 and cryptocurrency space highlighted one of his favorite projects while attending the Met Gala Monday night alongside his wife Serena Williams. What Happened: Reddit co-founder and investor Alexis Ohanian has invested in several NFT-related companies over the years including Doodles, Moonbirds and Yuga Labs.