Tether Backs Podcaster in Legal Battle Against Craig Wright: The Satoshi Saga Continues

Tether Throws Its Weight Behind Peter McCormack

Tether, the popular stablecoin operator, has come out swinging in support of podcaster Peter McCormack. As uncertainty swirls around who the real creator of Bitcoin is, Tether’s general counsel, Stuart Hoegner, made it clear that the company firmly rejects the claims of Craig Wright, who insists he is Satoshi Nakamoto.

The War of Words Begins

Let’s rewind for a second: back in April, Craig Wright, a Bitcoin SV (BSV) supporter, filed a libel case against McCormack for calling him a fraud and questioning his legitimacy as Satoshi. Talk about a lawsuit that could make for a gripping podcast episode! In fact, Wright’s legal actions were so impactful that they led to several exchanges like Binance and Kraken deciding to delist BSV. Moral of the story? Choose your legal battles wisely.

Tether’s Long Game Strategy

Hoegner stated Tether “stands behind” McCormack, suggesting that their support transcends mere lip service. While he kept specifics on the kind of backing under wraps, the implication was clear: this is not just a brief skirmish, but a long-term commitment to support McCormack’s defense against what they believe to be baseless legal action. Who knew crypto firms could be such loyal allies?

Craig Wright: The Legal Juggler

Meanwhile, Wright isn’t just busy suing podcasters—he’s also contending with a lawsuit from his former business partner, David Kleinman. Recent court documents revealed that Wright, despite his bravado, allegedly can’t afford to pay up for a $4.4 billion settlement. Sounds like a tough day at the office; throw in a sledgehammer of a podcast, and it’s a circus!

What Lies Ahead for McCormack and Tether

The upcoming legal battles might not only influence reputations but also have broader ramifications in the crypto community. Will McCormack emerge victorious, bolstered by Tether’s backing? And what happens to Wright’s claims of Bitcoin’s origin? One thing is for sure; this saga might just have more twists than a crypto-whodunit. Stay tuned!