Cryptocurrencies

Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied

Craig Wright (Image via CoinDesk archives)

The District Court for the Southern District of Florida has denied Craig Wright’s request for summary judgment in a case that involves claims over ownership of about 1.1 million bitcoin (worth over $11 billion). 

In an order signed on Monday, Judge Beth Bloom at the Florida court denied Wright’s motion seeking summary judgment that would have prevented the matter from proceeding to a full trial. 

  • The case, first brought in 2018,  involves the plaintiff Ira Kleiman’s argument on behalf of the estate of his late brother David, that half of Wright’s bitcoin worth and intellectual property belongs to Kleiman. The plaintiff has argued that the bitcoin in question was also mined together by Wright and Kleiman.
  • Wright’s request for summary judgment was comprised of six claims including statute of limitations, the plaintiff’s inability to prove the existence of an oral partnership and the court’s lack of subject matter jurisdiction. 
  • In the past, Wright has claimed that he was the inventor of bitcoin under the pseudonym Satoshi Nakamoto, an assertion many in the crypto world have disputed due to a lack of corroborating evidence.
  • According to an order issued by the Florida court on Sept. 4, the trial involving Wright’s bitcoin fortune has now been moved to Jan. 4, 2021. 

Related Stories

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Cryptocurrencies Videos

CoinDesk

CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Its mandate is to inform, educate and connect the global community as the authoritative daily news provider dedicated to chronicling the space. Founded in May 2013, CoinDesk reaches millions interested in blockchain technology thru its website, social media, newsletters, podcasts and video. CoinDesk created the original reference rate known as the Bitcoin Price Index which is widely sourced in the media including The Wall Street Journal, Financial Times, CNBC and many others on a daily basis.

Learn More