SUMMARY...

  • The Supreme Court in England made a shocking decision today for Craig Wright.

  • According to the decision, Wright's assets were frozen.

  • Wright claimed that he was the inventor of Bitcoin.  

  • Market impact: Neutral

The Supreme Court in England froze the assets of computer scientist and businessman Craig Wright. The main reason for establishing this transaction is to help entrepreneur Peter McCormack recover legal costs of approximately 1.5 million British pounds. These charges stem from a defamation lawsuit Wright filed against McCormack in 2019.

Let's Remember the Conflict Between Wright and McCormack

The legal conflict between Wright and McCormack began when McCormack made several public statements, including tweets and a YouTube video, accusing Wright of claiming to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

Wright, who started claiming that he was Nakamoto in 2016, took these accusations seriously and initiated legal action against McCormack, alleging defamation.

Controversies of Satoshi Nakamoto Allegation

The claim that Wright is Nakamoto has emerged as a highly controversial issue within the cryptocurrency community. To support his claim, Wright filed a lawsuit against 13 Bitcoin Core developers, claiming that they infringed his copyrights on the Bitcoin whitepaper and certain elements of the Bitcoin protocol.

The Crypto Open Patent Alliance (COPA), which represents several of the defendants in Wright's lawsuits, presented significant evidence showing that Wright fabricated documents to support his claims.

What Does the Court Decision Mean?

After careful consideration of the evidence presented by COPA, including allegations of fraud against Wright, the court concluded that Wright was not Satoshi Nakamoto. This ruling by Judge James Mellor destroyed Wright's narrative that he was the inventor of Bitcoin. This also provided legal grounds for the dismissal of defamation claims against McCormack.

As a result, the court ruled that McCormack had not insulted Wright and was entitled to recover his legal costs. The freezing of Wright's assets was a direct result of this decision. This allows McCormack to recoup his legal costs. If I were to interpret Wriht's situation at this stage, he probably didn't believe what he said either. Now he is suffering financially for his actions. As they say, don't try to lift the stone you will fall under. Wright was trapped under Satoshi Nakamoto's stone.

📈📉 #SatoshiNakamoto #Bitcoin #ingiltere $BTC