Craig Wright Ordered to Pay £400,000 in Security for Legal Costs
Australian computer scientist Craig Wright, who claims to be the creator of Bitcoin, Satoshi Nakamoto, has been ordered to pay £400,000 ($516,000) in security for legal costs in a case against cryptocurrency exchanges Coinbase and Kraken. The judge expressed doubts about Wright’s ability to fund the legal costs due to inconsistent statements about his financial position. If the security is not put in place, the case will be struck out within weeks.
Key Points:
1. Wright claims to own the intellectual property rights to Bitcoin and accuses Coinbase and Kraken of damaging the brand of his rival cryptocurrency, Bitcoin Satoshi Vision (BSV).
2. The judge cited statements made by Wright about making himself financially “untouchable” by using a trust to shift assets.
3. Wright is also facing charges in a Florida court for failing to disclose information in a dispute over the ownership of $143 million in cryptocurrency.
4. In a separate case, an Oslo court ruled in favor of a Twitter user who called Wright a “fraud” and a “scammer.”
5. Kraken has described the ruling as an important win in their defense against Wright’s claims.
Hot Take:
The ongoing legal battles involving Craig Wright continue to cast doubt on his claims of being Satoshi Nakamoto. The judge’s decision to order him to pay security for legal costs raises questions about his credibility and financial position. It remains to be seen how these legal proceedings will impact the cryptocurrency industry as a whole.
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