Zero Odds of Craig Wright Crashing Bitcoin

Craig Wright 'to Pay BTC 1m' as Judge 'Rejects' His Testimony

Among documents and credentials that later appeared to have been forged by Wright, it must be clear that the ownership of this trust and of half of 1.1 million BTC does not prove that Craig Stephen Wright is indeed Satoshi Nakamoto.

McCormack also shared the court order that explains that the court decided not to rule Craig Wright or Keilman the rights to the name Satoshi Nakamoto stating that the court is not required to decide it for the world.

WizSec Bitcoin Research said the judge had "struck all of Wright's affirmative defenses as inconsistent, and found Wright committed perjury and forged evidence".

The court found that Wright submitted false evidence during the motion.

Craig Wright, the self-proclaimed creator of Bitcoin, received a massive blow as a Florida District Court judge ordered him to turn half of his Bitcoin holdings and intellectual property (IP) rights to the estate of David Kleiman. As a result, the Florida federal court has ordered the Australian computer scientist to handover 50% of Bitcoin mined before 2014, to the Kleiman estate.

The ruling was pronounced by magistrate Judge Bruce Reinhart who recommended that Craig Wright turn over 50% of all the bitcoins he held before December 31st 2013 as well as 50% of the intellectual property rights to the bitcoin-related invention that Craig owned prior to the same time period.

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In 2018 Kleiman's estate sued Wright, alleging that Wright mined bitcoin with Kleiman, and Wright has been attempting to keep the cryptocurrency mined by both of them - which the suit claims amounts to about one million bitcoins - depriving Kleiman's estate of the half that it should possess.

"I'm not anxious about Craig transferring Bitcoin to Kleiman because I don't think he has any to transfer", Ryan Selkis, chief executive officer at crypto researcher Messari Inc., said in an email.

The ruling has been made, however, the case is not over yet.

Any Bitcoin-related intellectual property developed by Dr. Wright prior to David Kleiman's death was property of the partnership. Dr. Wright also believes the remedies recommended by the magistrate are extreme and disproportionate to the discovery dispute. "Otherwise, Dr. Wright was belligerent and evasive", Reinhart said. In his testimony Wright said he doesn't know where all the Bitcoins are, and may not even be able to access them. Wright still stands for his stance on him being the creator of Bitcoin. There are concerns that 200,000 coins could soon flood the market as the Kleinman estate settles its tax obligations following the lawsuit. I own a lot of BTC. There were reports that it was more than 410,000 bitcoin, while others described it as just under 500,000. At the end of the day, that's not a good thing for BTC.

"The Kleiman family has waited a long time to recover assets that should have been returned to it shortly after Dave's unfortunate death in 2013", Devin Freedman, a partner at Roche Freedman LLP, which represents Ira, told Bloomberg.

Wright was interviewed by Modern Consensus following the decision and said he had "no choice but to hand over $5 billion in bitcoin". Trust me. This is not an outcome I would have liked.

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