UK High Court Judge rules against Craig Wright over Bitcoin copyright claims

  • Central to the case were the copyright claims made by Craig Wright over Bitcoin’s whitepaper and code.
  • COPA claims victory, aims to safeguard Bitcoin’s decentralized nature against unwarranted copyright claims.
  • Judge Mellor cited fabricated evidence in Wright’s claims to be Satoshi Nakamoto.

The UK High Court has delivered a damning verdict against Craig Wright, a controversial figure claiming to be the elusive creator of Bitcoin, Satoshi Nakamoto.

Judge James Mellor, in a written judgment, asserted that Wright had lied “extensively and repeatedly” throughout the trial, further accusing him of presenting “fabricated” evidence to support his claims.

COPA wins against Craig Wright

Judge Mellor’s ruling serves as a culmination of a protracted legal battle that has spanned several years.

The lawsuit, brought forth by the Crypto Open Patent Alliance (COPA), aimed to challenge Craig Wright’s assertions of ownership over the intellectual rights to Bitcoin’s code and whitepaper.

Wright’s purported attempts to lay claim to these foundational aspects of the cryptocurrency ecosystem have been met with scepticism and legal resistance from various quarters.

Wright’s litigious nature, characterized by numerous lawsuits against developers and individuals critical of his claims, has raised concerns within the Bitcoin community.

However, Mellor acknowledged the adverse impact of Wright’s aggressive legal strategy on Bitcoin developers, stating that Satoshi Nakamoto, known for a collaborative and non-confrontational approach, would unlikely resort to litigation.

Fabrications and forgeries of documents

The judgment highlighted Wright’s alleged fabrications and forgeries of documents on a significant scale, all in support of his central claim to be Satoshi Nakamoto.

The judge characterized Wright’s actions as “clumsy” and underscored the pivotal role these falsehoods played in shaping the trial’s outcome.

COPA, formed with the primary objective of defending the open nature of the cryptocurrency ecosystem, contested Wright’s assertions, arguing that such claims could stifle innovation and deter developers from contributing to the Bitcoin network.

Throughout the trial, evidence emerged casting doubt on the authenticity of Wright’s claims.

Documents submitted by Wright’s defence purportedly supporting his identity as Satoshi Nakamoto were scrutinized, revealing inconsistencies and anomalies.

Fonts that did not exist at the alleged time of their creation and metadata indicating recent document alterations were among the discrepancies cited in Judge Mellor’s judgment.

Perjury charges loom over Craig Wright

The legal saga surrounding Craig Wright has been closely monitored by the cryptocurrency community, given its potential ramifications for the future of Bitcoin and the broader blockchain space.

While Craig Wright has announced on X that he will be appealing the ruling, the ruling represents a significant setback for his ambitions, with the possibility of perjury charges looming over him.

In response to the verdict, COPA hailed the decision as a victory for open innovation and the principles upon which Bitcoin was founded.

The alliance reiterated its commitment to safeguarding the decentralized nature of the cryptocurrency ecosystem, vowing to continue its efforts to protect against unwarranted copyright claims.

As the dust settles on this legal showdown, the broader implications of Judge Mellor’s ruling reverberate across the cryptocurrency landscape.

The verdict not only underscores the importance of transparency and integrity within the community but also serves as a cautionary tale against attempts to monopolize or control foundational elements of decentralized technologies like Bitcoin.

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Tether partners with RAK DAO to advance crypto education and adoption in UAE

  • Tether partners with RAK DAO to promote crypto adoption and education in the UAE.
  • The collaboration includes facilitating crypto payments & developing educational programs.
  • Aim is to drive economic growth and establish RAK DAO as a global blockchain hub.

Tether, the pioneering issuer of the USDT stablecoin, has forged a strategic partnership with RAK Digital Assets Oasis (RAK DAO) to bolster the introduction of Bitcoin and stablecoin technology in Ras Al Khaimah, UAE.

The collaboration, solidified through the signing of a Memorandum of Understanding (MoU), marks a significant step towards fostering blockchain education and adoption in the region.

Tether driving crypto adoption in UAE

In alignment with RAK DAO’s mission to promote web3 innovation and spur economic growth, Tether will collaborate closely to facilitate the integration of cryptocurrency payments within the region.

Additionally, the partnership will see the development of comprehensive educational programs through Tether Edu, catering to individuals across various proficiency levels. These initiatives will cover a spectrum of cutting-edge topics including Bitcoin, blockchain, peer-to-peer technologies, stablecoin adoption, and real-world cryptocurrency applications.

Paolo Ardoino, CEO of Tether, expressed enthusiasm about the collaboration, underscoring the transformative potential of Bitcoin and blockchain technology in the region. He emphasized Tether’s commitment to working alongside RAK DAO to materialize this vision.

RAK DAO’s vision for blockchain innovation

Dr. Sameer Al Ansari, CEO of RAK DAO, echoed Ardoino’s sentiments, highlighting the partnership as a pivotal moment in RAK DAO’s journey towards becoming a leading blockchain innovation center.

By harnessing the power of Bitcoin technology and cryptocurrencies, RAK DAO aims to drive economic growth, foster financial inclusion, and cement its position as a global leader in the digital economy.

This partnership comes amidst Tether’s recent announcement regarding the implementation of a robust transaction monitoring system for USDT, aimed at safeguarding against illicit activities associated with the stablecoin.

With Tether’s expertise in stablecoin issuance and RAK DAO’s dedication to blockchain innovation, this collaboration is poised to significantly accelerate the adoption and understanding of cryptocurrency technology in the UAE’s Ras Al Khaimah region.

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Crypto investment products see first inflows in over a month

  • Digital assets investment products saw $130 million in inflows, the first after four weeks of outflows.
  • Bitcoin remains above $62k and saw inflows of $144 million this past week.

As Bitcoin shows fresh resilience above $62,000, latest market data reveals that digital asset investment products recorded inflows for the first time in over a month last week.

On Monday, digital assets manager CoinShares published its weekly report on crypto investment products.

The details showed the industry saw $130 million in inflows for the week ending May 10. It’s the first time the metric reads positive since the first week of April – a run of four weeks of outflows.

Notably, Bitcoin saw inflows of $144 million, while short-Bitcoin ETPs recorded outflows of $5.1 million.

The majority of the inflows were seen in the US, with $135 million. Hong Kong saw $19 million in inflows. Elsewhere, Canada and Germany recorded outflows of $20 million and $15 million respectively.

ETP volumes remain low

While the week saw inflows overall, CoinShares’s head of research James Butterfill wrote in the company blog that ETP volumes have continued to decline.

For instance, the market saw ETP volumes of $8 billion last week, while it averaged $17 billion in April.

These volumes highlight ETP investors are participating less in the crypto ecosystem at present, representing 22% of total volumes on global trusted exchanges relative to 31% last month,” Butterfill noted.

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SEC delays decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF

  • SEC postpones decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF to June 24, 2024.
  • The ETF plans to invest 80% in Bitcoin and 20% in Carbon Credit Futures-linked financial instruments.
  • Gemini has been named custodian for the ETF.

The United States Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, a proposed exchange-traded fund focused on carbon credit futures contracts and Bitcoin (BTC).

The delay was announced in a filing made on Thursday and it extends the timeline for the U.S. SEC to evaluate the proposed exchange-traded fund until June 24, 2024.

During the extended timeline, the SEC aims to thoroughly review the proposal before making a final determination, citing the need for sufficient time to consider the potential impacts of the proposed rule change.

The 7RCC Spot Bitcoin and Carbon Credit Futures ETF

The 7RCC Spot Bitcoin and Carbon Credit Futures ETF plans to allocate 80% of its assets to Bitcoin and the remaining 20% to financial instruments linked to Carbon Credit Futures. This unique investment strategy aims to provide investors with a diversified portfolio that encompasses both digital assets and environmental sustainability.

The ETF’s approach is aligned with the evolving landscape of finance, offering a single-trade solution for those seeking exposure to both innovative technologies and progressive environmental initiatives. Gemini, a leading crypto exchange, has been named as the custodian for the ETF, signalling a significant partnership in the burgeoning digital asset space.

The postponement news reflects the ongoing scrutiny and evaluation by regulatory bodies like the SEC in navigating the intersection of traditional finance and emerging technologies.

As the deadline approaches, stakeholders eagerly await the SEC’s decision, which will have implications for the future of investment opportunities in both the digital asset and environmental sectors.

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Animoca Brands “comes to Bitcoin” with OPAL Protocol

  • Animoca Brands says Bitcoin is ready for Web3.
  • The blockchain gaming giant will collaborate with Darewise and OPAL Protocol to launch a new era for gaming, DeFi and Web3 on BTC.
  • BLIF, a new token of the OPAL Protocol, will power the ecosystem.

Animoca Brands, a leading blockchain gaming company with a huge presence across the market, has announced its entry into the Bitcoin ecosystem.

The Hong Kong-based company’s huge announcement came via a post on X on Tuesday.

Among other details, Animoca Brands said it “is coming to Bitcoin” and that the pioneer blockchain network is “ready for Web3.”

In this quest to dominate the new era of Bitcoin gaming, Animoca Brands is tapping into the OPAL Protocol, a new ecosystem on Bitcoin that’s powered by the BLIF token.

BLIF will be the OPAL Protocol Runes token, powering a true digital life on Bitcoin and beyond,” the company noted on X.

Animoca Brands portfolio companies ready to join project

Animoca Brands and metaverse company Darewise back OPAL Protocol and are poised to collaborate to make this “the largest Web3 ecosystem” built on Bitcoin.

The project will encompass gaming, entertainment, decentralised finance (DeFi), education and culture, according to details the Animoca team shared on Tuesday.

Already, six Animoca Brands portfolio companies have reportedly joined the initiative as genesis members. They include AAA massively multiplayer online (MMO) game Life Beyond, digital collectibles platform Magic Eden, Bitcoin Web3 wallet Xverse and developer platform Horizen Labs.

In addition, Animoca plans to partner with OPAL on all of its upcoming Bitcoin-based projects.

Animoca Brands’ vision for the #openmetaverse harnesses the power of network effects and this truly resonates with the OPAL Protocol, a truly decentralized Foundation with a Special Council. Any company eager to join the movement can apply to become a member of OPAL and build with $BLIF,” the announcement on X reads.

Members of the special council include Animoca Brands’ Yat Siu, BRC-20 creator Domo and Darewise CEO Ben Charbit. Others are Leah Wald, Herve Larren and David Bailey.

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