KaJ Labs Rescinds $250 Million LOI to Acquire Voyager Digital's Assets

Seattle, Washington--(Newsfile Corp. - July 21, 2022) -  Lithosphere developer, KaJ Labs, announced today that it has rescinded its Letter of Intent (LOI) to acquire the digital assets of Voyager Digital Holdings. Lithosphere cited disagreements regarding the deal structure and the closing process for the decision. Voyager Digital provides a suite of APIs and mobile apps that allows trading of multiple types of digital assets.

The KaJ Labs management team has been in contact with Voyager Digital's CEO, Stephen Ehrlich, over the previous week to work out a deal, but with no success.

Lithosphere Network

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"We are disappointed with today's announcement, but not deterred," said KaJ Lab's CEO, Joel Kasr. "We will remain focused and continue to look out for similar deals."

The Lithosphere network promises to eradicate bottlenecks faced in existing blockchain networks. Lithosphere is the first blockchain to utilize embedded Deep Neural Networks to make smart contracts intelligent, while enabling interoperability across diverse blockchains.

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About KaJ Labs

KaJ Labs is a decentralized research organization focusing on AI and blockchain technology. We're driven to create innovative products that work for the greater good around the globe.

About Lithosphere

Lithosphere is the next-generation network for cross-chain applications powered by AI and Deep Learning.

Media Enquiries
Catherine Sanders
Phone: (707)-622-6168
Email: media@kajlabs.com
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
Website: https://kajlabs.org
Website: https://lithosphere.network

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