Craig Wright must pay $516K to pursue sue against Kraken, Coinbase
Australian computer scientist Craig Wright, who claims to be Satoshi Nakamoto, the mysterious founder of Bitcoin (BTC), must pay $516,000 in legal costs to pursue claims against crypto exchanges Coinbase and Kraken. James Mellor, the presiding judge at the England and Wales High Court, issued a judgment on July 27, expressing doubts about Wright’s ability to fund the legal expenses, pointing to inconsistent statements about his financial position. The case revolves around trademark infringement, with Wright asserting that he owns the rights to the name “Bitcoin.” He argues that the exchanges cannot use the term for assets like BTC and Bitcoin Cash (BCH), which he believes deviates from his original system. You might also like: Bitcoin cash price rises as Binance.US addresses recent concerns The preliminary judgment required Wright’s company, Wright International Investments Ltd (WII), to provide security deposits of $323,900 and $193...