Wright Attorneys Warn Exchanges They May Not Be Able to Use Bitcoin Name

Written by:
Jagajeet Chiba
Published on:

Dr. Craig Wright has advised a number of cryptocurrency exchanges they may be in violation of using the Bitcoin name.  CoinGeek has learned that the letters went out to Bitcoin.org, Square, BTC Core, Blockstream, Coinbase and others this week. The letters were sent by law firm ONTIER on behalf of Dr. Wright.

Wright is currently appearing in a Miami court where a jury is set to determine his exact role in the development of Bitcoin.  That case - Kleiman v Wright - will also determine who receives custody of a s***load of Bitcoin totalling approximately $69 billion.

From CoinGeek:

The letter says and we can see from documents in the Kleiman v Wright case—aka the Satoshi Trial in Florida—that WII is the company that Dr. Wright assigned all of the intellectual property rights in the Bitcoin software and database to in 2009.

One of two letters sent out stipulates that "by misrepresenting BTC (Bitcoin Core) as ‘Bitcoin,’ they (the recipients) are misleading investors and other members of the public. It makes clear that as the creator of Bitcoin, Dr. Wright (and WII) intends to take action to enforce their rights in the Bitcoin name."

CoinGeek reports Thursday that at least one of the exchanges named, Coinbase, failed to notify investors of the potential for legal action. Coinbase made a direct listing on the Nasdaq exchange in April.

- Jagajeet Chiba, Gambling911.com

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