Tether supporting Peter McCormack in battle against self-proclaimed Satoshi


Craig Wright, the self-proclaimed Satoshi Nakamoto, had filed a libel claim in the United Kingdoms against popular cryptocurrency podcaster Peter McCormack. The reason behind the claim is that McCormack had accused Wright of fraud and false claims of being Satoshi Nakamoto in one of his videos. As per a report from BSV focused news outlet CoinGeek, the claim aims to “prevent McCormack from making further fraudulent claims that Wright is not the individual behind the Satoshi Nakamoto pseudonym.”

In the filing, Wright has also claimed for £100,000 (over $130,000) in damages and legal costs and court fees. Wright had also noted that McCormack’s comments were meant to hurt Bitcoin Satoshi Vision (BSV). However, the move by Wright’s legal team resulted in BSV being de-listed from world’s number one cryptocurrency exchange by volume, Binance. The filed report states:

“Wright maintains that BSV is the real target due to its capacity for massive on-chain scaling, which represents an existential threat to the future of other cryptocurrencies, the flawed design of which prevents them from scaling to meet the needs of a truly global financial platform.”

McCormack already had the majority of the crypto community supporting him and now recent reports reveal that popular stablecoin maker Tether has announced that it will be supporting him in the lawsuit against Wright.

Stuart Hoegner, General Counsel for Tether and crypto exchange Bitfinex, revealed on November 8, that Tether has also rejected Wright’s claims of being Satoshi Nakamoto. His tweet said:

“Craig Wright’s claims to be Satoshi Nakamoto have been rejected by many […] Wright has had myriad opportunities to prove that he is Satoshi and has not definitively done so.”

Hoegner also suggested that this support will be something more than just words, however, the lawyer did not clarify what kind of support McCormack will receive from Tether.

“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 defence against what we see as frivolous and vexatious litigation.”As reported by The Daily Chain, Wright has also been involved in an on-going case with David Kleinman and has broken the non-binding settlement and has denied the 500,000 ($4.5 billion) settlement fees to the plaintiff. As a result, the plaintiffs have resumed preparing for Trial.

Anna Larsen
Anna Larsen has been a Crypto enthusiast since 2016. Fascinated by the technology and its usecases she decided to pursue a career in content creation related to this space. The journey has been exciting ever since.

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