Craig Wright’s Libel Case Against Peter McCormack
Craig Wright, who claims to be the true identity of Bitcoin founder Satoshi Nakamoto, has lost his legal bid for substantial damages in a libel case against Peter McCormack, a popular crypto podcaster. The London Court of Appeal ruled that offering Wright only £1 in compensation was justified due to the false claims he made.
Key Points:
- Three judges unanimously agreed that Wright’s false case warranted only token damages.
- High Court Judge Martin Chamberlain treated Wright’s lies and deception as relevant evidence in the earlier case.
- Wright expressed disappointment at the court’s decision and highlighted the impact of online vitriol on his well-being.
- McCormack called for continued support for others involved in the case, including Hodlonaut, another Twitter user sued by Wright.
- Wright was previously awarded nominal damages by Chamberlain, who found that McCormack couldn’t prove Wright was a fraud.
In a separate case, judges ruled that Wright must pay £400,000 in security for legal costs in his claim against crypto exchanges Kraken and Coinbase. Additionally, a Florida court is set to determine whether Wright is in contempt of court regarding a $143 million dispute with his former business partner, Ira Kleiman.
Hot Take:
The ruling in Craig Wright’s libel case against Peter McCormack reflects the court’s recognition of Wright’s false claims. This decision sets an important precedent in the crypto community, reinforcing the need for honesty and transparency in the industry.
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