Gala Games Co-Founders Clash in $130M Token Heist Lawsuit
Gala Games, a blockchain gaming project, is facing internal turmoil as CEO Eric Schiermeyer and co-founder Wright Thurston engage in a legal dispute. Schiermeyer alleges that Thurston unlawfully acquired and traded $130 million worth of GALA tokens, while Thurston counterclaims that Schiermeyer mismanaged the company's assets. The lawsuits have caused the value of the GALA token to drop by 8%. GALA holders are concerned as the token has struggled for over a year and is down 97.9% from its peak.