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Craig Wright Backs out of 500000 BTC Lawsuit Settlement 0 279

Craig Wright Backs out of 500,000 BTC Lawsuit Settlement 0 279

Craig Wright, the infamous programmer claiming he’s the inventor of Bitcoin, is backing out of a 500,000 BTC settlement with the Kleiman estate. He says he can’t afford to finance the payout.

The Case Is Back On

Wright lost his case against Kleiman in August. Courts deemed he couldn’t prove he’s solely responsible for half a million Bitcoins he mined with Kleiman prior to 2014. That means the case that ended less than 90 days ago is now being re-opened. Wright battled with Ira Kleiman’s estate through his living relative David Kleiman. At the time of the court’s decision, the 500,000 BTCs were worth over $5 billion.

A motion filed on November 1st in a Florida courtroom states that both parties have reached a non-binding agreement in principle following several conference calls and in-person meetings. The plaintiffs were claiming they were no longer pursuing active litigation, but they found their efforts to be a waste of time. The law firm representing the plaintiff’s case wrote in a motion that on October 30th, 2019, they were informed Mr. Wright could no longer afford to finance the settlement and that he was “breaking” the non-binding settlement agreement.

So What’s Next?

Lawyers representing the Kleiman estate are now preparing for a new court date on March 30th of next year.

Wright is Now Fighting Back against an Old Deposition

Roche Freedman is now working to obtain a deposition of James Wilson, a chief financial officer of Craig Wright’s companies in Australia. He worked for Wright between 2012 and 2013. The plaintiffs think the comments Wilson made during that deposition are going to be crucial to the case. He was the one looking over Wright’s companies when they were sold to the Kleiman estate in exchange for Bitcoin. Wilson will be visiting Washington on November 8th to be deposed once again.

In lieu of that upcoming date, Wright’s lawyers are suggesting they will not consent to a deposition because they haven’t received 14 days’ notice for an out of state deposition as required by the law. The court documents also show the team will decide whether or not they’re willing to go through with a video deposition within the next week. This is all quite a bit of red tape to go around for Kleiman’s estate and Wright’s conduct has certainly put a strain on things.

Forgery Complaints

Emails, invoices and BitMessages were analyzed over the summer time and investigator Matthew Edman uncovered the fact there’s a good chance Craig Wright tampered with documents relating to the Tulip Trust, an account where funds were being held. This has created an atmosphere of doubt around Wright’s integrity, although a cross examination from opposing lawyers gave them a chance to refute claims. The story around Wright and the $10 billion-plus within the Kleiman estate just keeps getting more and more interesting. And it seems, it’s not exactly over yet.

Article Produced By
Jack Choros

https://cryptoradar.org/craig-wright-lawsuit/

Heiko Closhen, Entrepreneur

Ted Leonsis: the Economy is Shadowy Thanks to BTC

Ted Leonsis: the Economy is “Shadowy” Thanks to BTC

Billionaire Ted Leonsis has made a real name for himself when it comes to sports and gambling.

Recently, the mogul took a case to the Supreme Court that resulted in the U.S. relaxing some of its gambling laws. This led to less money flowing into illegal operations and more into legitimate gambling platforms.

Leonsis: Confused About Crypto?

No doubt Leonsis has done wonders for the gambling sector, but he seems to suffer from a viewpoint that many in his position are unable to shake. As we all know, bitcoin and cryptocurrency has opened up several doors to new kinds of online gambling, and while this been very good for the industry in a lot of ways, Leonsis is choosing primarily to associate crypto with the dark web, and unfortunately, he’s not the only one. The dark web paves the way for criminal activity in the crypto community. Those looking to buy drugs, guns and other illegal paraphernalia typically seek to use crypto make such purchases given that they are allegedly more anonymous than fiat or plastic credit cards. In a recent interview,

Leonsis explains:

Let’s take this shadowy economy which is going to explode even more with bitcoin and the dark web and bring it into the light, and if we can do that it will generate more jobs and it will generate tax revenues.

In this sense, Leonsis is potentially missing out on an entirely new side of crypto. For one thing, many people in his position – the Winklevoss Twins, for example – have learned to embrace the technology behind cryptocurrency as a means of steadying whatever infrastructure it’s looking to support, whether it be finance or warehouse supply chains.

Both Cameron and Tyler Winklevoss were potentially among the world’s first bitcoin billionaires in early 2018 following the currency’s explosion to nearly $20,000 in December of 2017. As some of the first investors in the currency, the sudden surge brought their net worth up and placed them on par with people like Leonsis, thereby allowing them to enjoy similar wealth but through digital means. In addition, the Winklevoss Twins have consistently showed a willingness to remain compliant with present rules and regulations. Their company the Gemini Exchange was among the first to obtain a BitLicense so that it could operate legally in New York.

Blockchain Can Help the Gambling World

Thus, blockchain and bitcoin don’t necessarily have to serve as the underlying supporters of dark web activity. It’s simply a matter of utilizing them properly. Perhaps if Leonsis were more open to the notion of blockchain appropriately serving the gambling industry, he might realize just how legitimate blockchain-based betting could be. Imagine ensuring all bets are valid by having them recorded permanently on a digital ledger. Now that’s legitimacy for you.

Article Produced By
Nick Marinoff

https://www.livebitcoinnews.com/56396-2/

Heiko Closhen, Entrepreneur

Power to the seniors