Craig Wright Ordered To Give Up 50% Of His BTC Holdings worth Billions by Court

Published August 27, 2019 | Updated August 27, 2019

Craig Wright

Craig Wright Ordered To Give Up 50% Of His BTC Holdings worth Billions by Court

Craig Wright must now give up about 50% of both the bitcoin holdings and intellectual property rights associated for bitcoin software that he had developed with his now deceased business associate, David Kleiman.

The ruling was pronounced by magistrate Judge Bruce Reinhart who recommended that Craig Wright turn over 50% of all the bitcoins he held before Dec. 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.

Court Order Has Been Ruled Final, No Opposition

And according to people familiar with the court hearings, Craig as ruled by the judge, will not be able to oppose the order, nonetheless, an appeal is still possible. The handing over process must be duly monitored by the authorities.

Initially, Ira Kleiman, Craig’s late partner’s brother had filed a lawsuit  against Craig for $10 billion on the allegations of misappropriating his brother’s bitcoin holdings.

The case is not over yet, though the contempt hearing is complete. Procedural issues such as collection still have to be worked out.

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Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com
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Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com
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