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Craig Wright May Become Subject of Legal Action by WhatBitcoinDid Podcaster Peter McCormack

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  • Craig Wright has aggressively pursued legal action against Peter McCormack for calling him a “fraud.”
  • Wright has filed with the US Copyright Office to claim authorship of the Bitcoin whitepaper.
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Craig Wright has proclaimed himself to be the creator of Bitcoin – Satoshi Nakamoto – for quite some time. The chief scientist for nChain has been aggressively pursuing people who say that he is not Satoshi, even though there is plenty of proof that provides reasons why he isn’t.

Regardless, Wright has continued to go after people with such passion that there have been some exchanges that have delisted the Bitcoin SV token that he supports in some twisted way of teaching him a lesson.

Now, Wright could soon see himself on the receiving end of legal action from Peter McCormack, a podcaster that hosts WhatBitcoinDid. McCormack has referred to the chief scientist as a “m**her**c*r,” and even said that he’s proceeding with legal action “within a week” after speaking with top-performing legal firms.

The drama between McCormack and Wright has been brewing for well over a month, pushing legal documents back and forth. McCormack first received a letter from Wright and Calvin Ayre, demanding that he delete the tweets that called Wright a “fraud.”

The twosome also said that McCormack needed to apologize in open court for saying that Wright and Satoshi are not the same person. Clearly, McCormack decided against this retraction and apology, challenging the order by saying, “Let’s go to court.”

After the non-response, the lawyers of Ayre and Wright sent another letter this week. Since the podcaster let the order go by after May 16th, the new letter said that they are “entitled to apply Part 12 of the CPR to request that an order for judgment in default be entered against you.”

Furthermore, the letter said that Wright could apply to the court for McCormack to pay out “damages,” and that there would be an injunction for McCormack to read off an official statement in court.

Originally, McCormack claimed that there is a chance that he would not contest the challenge, because he does not want to give Wright the “satisfaction.” The podcaster was met with tons of criticism for this choice, which may be part of the reason that McCormack is lawyering up with his own action now.

Wright filed an application in the United States this week that would allow him to claim the Bitcoin whitepaper and software through the US Copyright Office.

The US Copyright Office has already replied, saying that the claim is presently in the “examination process.” Still, since the whitepaper ownership involves a pseudonym, the investigation will not include anything that is considered “a provable connection between the claimant and the pseudonymous author.”

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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