London, United Kingdom--(Newsfile Corp. - June 8, 2023) - KaJ Labs, developers behind the Lithosphere (LITHO) blockchain, today announced their commitment to allocate $350 million towards the Binance and Coinbase Legal Defense Fund in their ongoing battle against the United States' Securities and Exchange Commission (SEC).
KaJ Labs firmly believes in the importance of supporting fair and transparent regulation in the crypto space while safeguarding the interests of innovation and financial inclusion. The $350 million allocation from KaJ Labs reflects the company's strong belief that Binance and Coinbase have played pivotal roles in shaping the global cryptocurrency ecosystem, offering users reliable platforms for conducting secure and efficient transactions. KaJ Labs recognizes the need to provide a united front to defend the legitimacy of these platforms against regulatory overreach.
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In a statement, Joel King Kasr, Founder of KaJ Labs, said, "We firmly stand by Binance and Coinbase in their pursuit of justice and fair treatment from the ongoing legal proceedings. It is crucial for the entire cryptocurrency community to come together and support these exchanges, which have been instrumental in driving the adoption of digital assets worldwide."
KaJ Labs reiterates its commitment to the principles of decentralization, transparency, and fostering innovation within the blockchain and cryptocurrency space. The foundation will continue to actively advocate for sensible and fair regulatory measures that strike a balance between investor protection and the development of groundbreaking technologies.
About Jot Art
Jot Art (JOT)'s mission is to provide a mixed reality(XR) ecosystem powered by A.I with community and player-owned economies. JOT is a payment & governance token for the Jot Art metaverse.
Lithosphere is a next-generation network for cross-chain decentralized applications powered by AI and Deep Learning.
KaJ Labs Foundation
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