On Friday, November 8, the company behind USDT, Tether’s general council, Stuart Hoegner shared that Tether has decided to side with Peter McCormack’s lawsuit against Craig Wright.
As per a series of tweets seen below, Hoegner argued that Craig Wright had many opportunities to prove his claim that he is Satoshi Nakamoto, but he has failed to do so.
— Alistair Milne (@alistairmilne) November 8, 2019
As a consequence, it made sense to them to support McCormack’s lawsuit against Wright, where Wright is being sued for libel. Although this might be an expensive one, Hoegner noted that it’s all for the long run.
He also noted the following:
“We are humbled to support his defence against what we see as frivolous and vexatious litigation.”
On August 29, 2019, McCormack updated his followers regarding the lawsuit in a tweet. Interestingly, the class action doesn’t only include Wright, but also Founder of Ayre Group and CoinGeek, Calvin Ayre, and Chair of Strategic Advisory Board of nChain Global, Jimmy Nguyen.
Craig Wright’s claims to be Satoshi Nakamoto have been rejected by many. @Tether_to also rejects them. Wright has had myriad opportunities to prove that he is Satoshi and has not definitively done so. 1/3
— Stuart Hoegner (@bitcoinlawyer) November 8, 2019
The trio is accused for misleading investors by lying that Wright is Satoshi and BitcoinSV is the true vision Satoshi had when the concept of digital assets was first developed.
News outlet, Coin Telegraph also reported on this matter and has since noted that Wright is involved in another lawsuit. This filing supposedly comes from a former business partner, David Kleinman, and as per the court documents filed on November 1, Wright was unable to settle 500,000 BTC (i.e. $4.4 billion).
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