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Spared billions in fine: Alleged Bitcoin inventor Craig Wright wins legal case

Craig Wright, an Australian businessman who claims to be behind the pseudonym of the famous Bitcoin inventor Satoshi Nakamoto, has won one of the most controversial crypto legal cases and therefore does not have to pay the heirs of his former business partner a billion-dollar fine.

• Craig Wright wins legal battle with heirs of former partner
• Patent rights for blockchain technology have been infringed
• Satoshi Nakamoto’s identity remains unclear

Craig Wright, who claims to be Satoshi Nakamoto, has won a lengthy legal battle, according to CNBC. This involved 1.1 million Bitcoin that Satoshi mined and owned in the early stages of the cryptocurrency. These are currently worth around 50.6 billion US dollars (as of December 20, 2021).

Wright vs. Kleiman

The heirs of Dave Kleiman, who worked with Wright until his death in 2013, have argued that they are entitled to half of these coins because Kleiman helped develop Bitcoin. But a court in Miami, Florida, the state in which Wright and Kleiman founded their first company together, saw things differently. The jury sided with Wright.

In addition, David Kleiman’s survivors claimed part of the patent rights to the early blockchain technology. The US court ruled that Wright was guilty of infringement of intellectual property rights and had to pay $ 100 million in damages. The Kleimans should not see any of this, because this money does not go to Kleiman’s estate, but to W&K Info Defense Research LLC, the joint venture between the two men.

Craig Wright satisfied

Craig Wright was then satisfied with the outcome of the proceedings: “This is an extremely good result and I feel completely right and exonerated,” he said in a video message distributed via Twitter. In his view, he’s never really partnered with Kleiman because he “hates” partnerships, Wright said.

Is Wright Satoshi or not now?

Meanwhile, there are many in the crypto community who doubt that Craig Wright is actually Satoshi Nakamoto, because there are several pieces of evidence that would refute his claim. For them, the process did not clarify whether Wright was actually telling the truth in this regard. The situation would be different if the Australian programmer had lost the process. In this case, he would have had to open the Satoshi wallet to pay the Kleiman’s heirs, ultimately proving that he was indeed the inventor of Bitcoin.

Wright has announced that he will provide the evidence even if he wins the process and has promised to donate a large part of his Bitcoin assets to charity. It remains to be seen whether he will actually keep his word.

Finanzen.at editors

Image source: 3Dsculptor / Shutterstock.com, gualtiero boffi / Shutterstock.com, VallaV / Shutterstock.com

Reference-www.finanzen.at

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