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Theta Network

THETA

DePIN · Built in San Jose, CA · Theta Labs, Inc.

Listing suspended

Listing suspended on 2026-09-14

Neither Test 2 nor Test 3 is established. Test 3 rested on Theta Labs' January 2018 SEC Form D/A, the company's own notice filing, which is not regulatory engagement, and no regulator or court record of US engagement, or two independent sources reporting it, was found. Test 2 fails because neither co-founder's US status at founding or current operational role is sourced. Tests 1 and 4 are met: Theta Labs' current privacy policy gives a San Jose, CA street address, and its Form D/A gives Delaware incorporation. Market data is withheld until verification meets the USCC evidence standard.

The verdict on record

Pathway: US operating company. Needs Tests 1 and 4, plus 2 or 3.

  1. Test 1 · passes on primary documents

    Headquartered in the United States

    Theta Labs, Inc. is headquartered in San Jose, CA.

    2 sources· 2 primary

  2. Test 4 · passes on primary documents

    Registered in a US state

    Theta Labs, Inc. is registered in DE.

    1 source· 1 primary

  3. Test 2 · not met

    American founding team

    0 of 2 named founders are established US persons holding operational roles today; a majority is required.

  4. Test 3 · not met

    Primary operations in the United States

    No US primary-operations claim is supported by a primary document or two independent sources.

Legal entities

Theta Labs, Inc.

Delaware · operating company, token issuer · San Jose, CA

6 sources· 6 primary

Founders

Mitch Liu

Co-founder; signed Theta Labs' January 2018 Form D/A as CEO (current role not re-verified) · US status not established · no operating role today

1 source· 1 primary

Jieyi Long

Co-founder (CTO role not re-verified) · US status not established · no operating role today

Regulatory posture

SEC

Form D/A filed 2018-01-17 by Theta Labs, Inc. for a Regulation D SAFT offering ($29,144,762 sold; first sale 2017-11-28).

1 source· 1 primary

Record history

  1. 2026-09-14 · suspended

    Suspended: Test 3 rested only on Theta Labs' own Form D filings, which are not regulatory engagement, and Test 2 is not established.

  2. 2026-09-14 · review opened

    Review opened: current HQ, founders' current roles, and reported 2025 former-employee litigation are unverified; T1/T3 rest on 2017–2018 filings.

  3. 2026-09-14 · correction

    San Jose, CA headquarters, previously unsourced, is now sourced to the address in Theta Labs' Theta EdgeCloud privacy policy (last updated March 2025); the 2018 SEC Form D/A gave Cupertino. Delaware incorporation confirmed from the Form D/A. Added thetaedgecloud.com, which Theta Labs owns and operates, as an official domain. Removed the Form D as Test 3 evidence, since a notice filing is not regulatory engagement. Removed unsourced investor claims (Sony Innovation Fund, Samsung NEXT, DCM) and the audit claim (ChainSecurity) pending evidence.

  4. 2026-04-29 · listed

    Listed in the v0.1 allowlist.

Full registry changelog
Not currently verifiedVerified by USCC research pass 2026-09-14 (AI-assisted; pending editorial sign-off)

About Theta Network

Theta Network is developed by Theta Labs, Inc., a Delaware corporation. Theta Labs sold Simple Agreements for Future Tokens in 2017–2018 under an SEC Form D filing, which listed its principal place of business in Cupertino, California. Its current privacy policy for Theta EdgeCloud, the GPU platform it owns and operates, gives its address in San Jose, California.