Coinbase Wants Satoshi Nakamoto to Remain Mysterious, Craig Wright Files another Lawsuit in a London Court
Surging prices, anticipation, and steady coin interest round out today’s headlines.
Tether Limited and New York Office of the Attorney General Settles for $18.5 million
A relief for crypto and DeFi, Tether Limited, and the NYOAG has settled for $18.5 million. It took two years for this judgment to be made. The NYOAG alleges that Tether Limited, the official issuer of the USDT stablecoin, is complicit in committing fraud.
In their case, they argued that Tether Limited illegally lent Bitfinex $850 million in USDT to cover for Bitfinex losses suffered in the hands of a crypto-processor in 2018.
However, the loan has been repaid in full, and interest paid. This was a necessary step to ensure the continuity of Bitfinex’s operations. Bitfinex is one of the largest exchanges in the world. Together with Tether Limited, they are managed by iFinex.
From this case, it also emerged that USDT was not fully covered by cash as assumed. Instead, the coin is collateralized by among many assets cash, cash equivalents, and digital assets.
Craig Wright Files another Lawsuit; Plaintiffs include the Bitcoin Association
Craig Wright, the co-founder of Bitcoin SV—who also claims to be the legitimate founder of Bitcoin—the mysterious Satoshi Nakamoto, albeit without proof, has filed another lawsuit in a London court.
This time, the controversial computer scientist accuses many of the original adopters of Bitcoin, including Peter Todd and Roger Ver of Breach of Fiduciary Duty.
The lawsuit was filed on Feb 24.
Despite his assertions, Craig has failed to prove that he’s the founder of Bitcoin. Most exchanges, including Binance, have delisted BSV.
Coinbase: Revealing the True Identity of Bitcoin will Hurt Business
Against Craig’s wishes, Coinbase—in their S-1 filing with the U.S. Securities and Exchange Commission (SEC), prefers the founder’s identity to remain mysterious.
Divulging the actual identity of Satoshi to the world will damage its business and negatively impact Bitcoin.
Coinbase is going public.
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