Rajarshi Mitra
Independent Analyst
- If true, the fortune would allow him to pay the allegedly owed amount to his ex-business partner, Ira Kleiman.
- However, Wright has said that he’s not able to access the Bitcoin trove as it has been moved to a blind trust.
Lawyers of Craig Wright, a computer scientist who claims to have invented Bitcoin, have said that Wright has received the digital keys to a fortune, which would give him access to around $8 billion worth Bitcoin. If true, this would enable Wright to complete the payment that he allegedly owed to the estate of his ex-business partner, which has sued him for about half of that.
The notice of compliance that was filed in the Southern District of Florida says that “Dr. Wright notifies the Court that a third party has provided the necessary information and key slice to unlock the encrypted file, and Wright has produced a list of his bitcoin holdings, as ordered by the Magistrate Judge, to plaintiffs today.”
For the past year, Wright has been involved in a lawsuit with Ira Kleiman. According to Wright, he invented Bitcoin with Kleiman. After learning about Wright’s supposed identity, Kleiman sued Wright stating that his estate should be entitled to roughly half of the one million Bitcoins, which Wright claims to have mined in the early days of Bitcoin.
However, Wright has said that he’s not able to access the Bitcoin trove as it has been moved to a blind trust. He added that a “bonded courier” will deliver the find keys by the end of January 2020. The Florida judge, having already deemed Wright “not credible” to provide documents in a deposition that appeared to have been forged, has given Wright time till February 3 to wait for the courier.
The court has also urged Wright to pay 500,000 Bitcoin (around $4 billion) that is allegedly owed to Kleiman. Wright, who had first agreed to pay the settlement amount, has now abandoned it as he was not able to finance it, and the trial has begun anew.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin, Ethereum prices seesaw ahead of the Fed’s decision on rate hike
The US Federal Reserve is expected to raise interest rates while facing the tough task of tackling the banking crisis. Economists expect the central bank to increase its target rate range to 4.75% -5%, although there is a debate as some believe the Fed will not raise its rates at all. Bitcoin price rally steadied above the $28,000 level after yielding nearly 15% gains over the past week.
Aptos Price Forecast: This key level will determine if APT will rally 20% or crash 40%
Aptos price lacks directional bias as it consolidates below a critical hurdle. This level is key in determining where APT will head next. Investors need to wait for confirmation before making their decision. Aptos price rallied 554% between December 30, 2022, and January 26, 2023. This massive uptrend set up a local top at $20.40, resulting in a reversal that pushed APT down by 52%.
These altcoins could yield massive gains after Cardano and XRP prices rally this alt season
While large market capitalization assets Bitcoin and Ethereum hold steady, altcoins like Cardano and XRP have yielded double-digit gains overnight. Crypto experts believe Bitcoin’s rising dominance signals the popcorn effect is close, gains will continue spilling over in altcoins like Cardano (ADA) , XRP and Cosmos Hub’s ATOM.
XRP price tags $0.49 as Ripple bulls make a comeback
Ripple, one of the largest altcoins by market capitalization, witnessed a massive run up to the $0.49, ahead of the US Federal Reserve’s rate hike decision. The recent updates in the SEC v. Ripple lawsuit and the banking crisis have turned market participants bullish on XRP and cryptocurrencies.
Weekly Recap: Bank runs, stablecoin drama, Voyager bankruptcy hearing, threat to DOX Shiba Inu founder
US bank runs sent shockwaves through market participants, traders turned to Bitcoin and the “safe haven” narrative made a comeback. Binance’s $1 billion acquisition of bankrupt crypto lender Voyager is back on track with a ruling from a New York bankruptcy judge.