Key notes
- THETA has fallen into its 2020 price range despite several crypto rallies.
- Long term charts show repeated lower highs, THETA down over 97% from ATH.
- The whistleblower lawsuits allege price inflation caused by insiders and deceptive partnerships.
THETA has returned to price levels last seen in 2020 after erasing gains from several bull market rallies along the way. The long-term weekly chart shows a clear distribution structure, with each recovery attempt capped by a descending trendline back to the 2021 high.
Despite brief rebounds between late 2020 and early 2022, THETA continues to trade at $0.3278, down 97.95% from its all-time high above $15, according to CoinMarketCap. The altcoin has fallen 21% over the past 30 days.
THETA’s weekly chart below looks like a classic post-bubble rundown. The 2021 peak marked the high point of the cycle, followed by increasingly weak rebounds in subsequent years. Each bounce was capped earlier than the last, while support gradually eroded until the price returned to its original accumulation range.
THETA in a long-term downtrend | Source: TradingView
The failure to set higher lows during major market rallies indicates that the previous rally was largely driven by emotion. Without a decisive breakout above long-term resistance and significant volume expansion, the chart does not favor massive capital allocation.
Whistleblower lawsuits cast shadow over Theta Labs
THETA prices could fall further with two separate whistleblower lawsuits filed in California by former Theta Labs executives Jerry Kowal and Andrea Berry. The complaints allege that the company and its executives engaged in years of deceptive practices related to the THETA token and related NFT activity.
According to a Bloomberg report, the documents outline internal concerns over token sales, disclosure practices, and governance that were allegedly subject to retaliation rather than reform.
The lawsuits describe a trend in which token-related announcements and promotional activities were used to support higher prices, while insiders allegedly reduced their exposure during periods of high trading volumes.
Former Theta Labs executives file whistleblower lawsuit
Two former top executives at Theta Labs have filed a whistleblower lawsuit in California, accusing the company and its CEO, Mitch Liu, of deception, market manipulation and retaliation for years, according to @DecryptMedia.… pic.twitter.com/w0DyUKKLBu
– ME (@MetaEraHK) December 17, 2025
Former employees say they witnessed repeated efforts to inflate demand for THETA. Although the allegations are unproven, the token’s price performance further adds legitimacy to Kowal and Berry’s statements.
Celebrity marketing and contentious partnerships
The lawsuits focus heavily on the use of high-profile marketing to attract cash. Promotional efforts tied to celebrities such as Katy Perry are believed to have played a role in driving speculative interest rather than organic adoption.
The complaints also assert that certain NFT-related activities created an artificial appearance of demand through internal or coordinated behavior. Theta’s relationship with Google was also discussed.
According to the lawsuits, a standard cloud services agreement was publicly presented as a strategic partnership, which created the impression of approval and validation that did not exist.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
A crypto journalist with over 5 years of industry experience, Parth has worked with leading media outlets in the crypto and finance world, gaining experience and expertise in the field after surviving both bear and bull markets over the years. Parth is also the author of 4 self-published books.
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