Tether will support the latest lawsuit by crypto podcaster Peter McCormack against the self-proclaimed Bitcoin creator Craig Wright as we are reading further in the Tether cryptocurrency news.
The general counsel for Tether and crypto exchange Bitfinex, Stuart Hoegner revealed back on November 8 that Tether will also reject the claims made by Wright of being Satoshi Nakamoto and he explained:
“Wright has had myriad opportunities to prove that he is Satoshi and has not definitively done so.”
As previously explained in April, Bitcoin SV proponent and creator Craig Wright filed a libel claim against Peter McCormack over him accusing Wright of fraud and claimed falsely to be Satoshi Nakamoto the self-proclaimed creator of Bitcoin. The move by the legal team of Craig Wright also resulted in Binance delisting in Bitcoin Satoshi Vision in April alongside the other exchanges including Kraken and Shapeshift.
Hoegner said that Tether stands behind McCormack in his lawsuit against Wright and he suggests that the support provided goes further beyond just words though the lawyer did not clarify what kind exactly of support will the podcaster receive:
“Litigation can be drawn-out and expensive, but we are committed to the long game. We admire Peter’s conviction and are humbled to support his defense against what we see as frivolous and vexatious litigation.”
Wright is also involved in many other legal disputes and in some as a defendant in another legal case filed by the ex-business partner David Kleinman. As we reported earlier, the court documents filed on November 1, reveal that Wright could not finance a 500,000 BTC settlement in the case.
Tether will support McCormack in his legal proceedings despite the inability of Wright to pay the previous settlement cases. Since the settlement has now been broken, the case will be taken back to court. At the end of August this year, Wright was held in contempt of court because he didn’t disclose the complete list of bitcoin addresses. He has holdings that amount to more than 1.1 million bitcoins. Back then, he claimed that the funds were inaccessible because they were heavily encrypted as well as because of the death of his former business partner, David Kleiman.
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