US Appeals Court Rules in Favor of Craig Wright in Bitcoin Ownership Dispute
The United States Court of Appeals for the Eleventh Circuit has made a ruling in the legal battle between Craig Wright and Ira Kleiman over the ownership of billions of dollars worth of bitcoin. The court has upheld the district court’s verdict, stating that there is no evidence to suggest that an incorrect legal standard was applied, and therefore, no new trial will be granted.
Background: Wright’s Bitcoin Ownership Dispute
In 2018, Ira Kleiman filed a lawsuit against Craig Wright, claiming ownership of 50% of the 1.1 million BTC mined in the early days of Bitcoin. Kleiman argued that his late brother, Dave Kleiman, was a partner with Wright during the production of these bitcoins and deserved a share of the assets.
Over the course of three years, Wright denied being business partners with Dave and asserted that they were only friends. He also claimed that Dave helped him edit the Bitcoin whitepaper. Wright dismissed Kleiman’s claims regarding the mined assets.
Court Decision: Denial of Appeal
In 2021, a Florida court ruled in favor of W&K Info Defense Research and ordered Wright to pay $100 million in compensation for allegedly stealing the company from Kleiman. The jury determined that Wright and Kleiman were not business partners and that the damages should be paid in fiat currency rather than BTC.
Kleiman appealed this decision, arguing that there were several grounds on which the ruling should be overturned. However, the Court of Appeals carefully considered each argument and found no reason to change the jury’s verdict.
“The district court did not make an error in vacating sanctions imposed by the magistrate judge. The Estate has not provided any evidence to suggest that an incorrect legal standard was applied or that there was a clear error of judgment,” the court stated.
Hot Take: Craig Wright Prevails in Bitcoin Ownership Dispute
In the long-standing legal battle over bitcoin ownership, Craig Wright has emerged victorious as the US Appeals Court rules in his favor. This ruling affirms the previous decision and denies Ira Kleiman’s appeal for a new trial. While Kleiman claimed that his late brother, Dave, was entitled to 50% of the bitcoins mined by Wright, the court found no evidence to support this partnership claim. As a result, Wright retains full ownership of the disputed bitcoins. This case serves as another significant development in the ongoing saga surrounding the identity and ownership of bitcoin’s creator.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen’s contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.
