CG Pulse Ep 69

The CoinGeek Pulse Episode 69: Craig Wright wins Bitcoin Trial of the Century, Army Coin promoter suspended, Duro Dogs drops on BSV

The historic Bitcoin trial of the century ended this week in Miami, Florida. After more than a week of deliberations, the federal jury finally delivered the long-awaited verdict in the Kleiman v Wright civil trial—Dr. Craig Wright is the sole creator of Bitcoin.

The Australian Bitcoin inventor, who wrote the Bitcoin white paper under the pseudonym Satoshi Nakamoto, won the civil case in six out of seven counts. The complex case ran for four years and was even deemed as unwinnable.

This week, however, the jury found no evidence that Dr. Wright had a business partnership in creating Bitcoin with the late Dave Kleiman, whose estate had claimed that Wright owed Kleiman half of the 1.1 million bitcoin and intellectual property amounting to billions in U.S. dollars.

Of the seven counts on the verdict sheet, the jury only answered “yes” to one count—that Dr. Wright had wrongfully exercised control over the intellectual property of W&K Info Defense Research LLC. They ordered Dr. Wright to pay $100 million to W&K and not the Kleiman estate which holds a 25 percent stake in the company. This is a stark contrast to the over $70 billion at stake in the beginning of the trial in November.

It’s worth noting that Dr. Wright is the beneficiary of W&K, while his ex-wife Lynn is the 75% majority shareholder. Interestingly, Lynn has an ongoing probate case against Ira Kleiman stating that Ira had no authority to act on behalf of W&K.

Wright’s victory was covered by major mainstream media around the globe and celebrated by those who believed Wright is Satoshi. Bitcoin Association Founding President Jimmy Nguyen tweeted a video of Wright saying how remarkably good the outcome of the trial was and how he feels completely vindicated. Wright added, “And each victory we get takes us closer to a world where digital cash is used, not a global casino, but real digital cash where people in third world countries can make money, hold money and trade.” 

Dr. Wright also revealed his plans after the trial in a post-verdict sit-down interview. Wright said, “We’re going to start getting everything aligned and back in order. And we’re going to bring law back into digital cash, and make sure people understand that it’s not about cryptocurrencies.”

He continued, “It’s about a system that is a commodity information exchange that has value globally because people can send and receive micropayments – that people can remit money across borders.”

Watch the full interview of Dr. Wright and his lawyers on CoinGeek.com.

In other news, the cryptocurrency exchange accused of misleading fans of pop group and global sensation BTS over the promotion of Army Coin has been suspended.

Bitget has reportedly lost its license in Singapore after the Monetary Authority of Singapore (MAS) suspended the exchange over its high-profile row with Hybe, BTS’s agency based in South Korea.

The agency threatened legal action against the exchange in October for promoting the Army Coin, which is believed to be named after BTS followers known as the BTS Army. Bitget had advertised and allegedly misled fans that the Army Coin would provide lifetime financial support to the seven members of BTS. Hybe maintained that the coin is not affiliated with BTS and encouraged those who encountered financial damage to file a police report.

The Singaporean regulator’s move comes amid the country’s goal of becoming a global digital currency hub.

Meanwhile, a new NFT game officially dropped this week on the BSV network.

Users can get started for free on Duro Dogs by connecting the application with their HandCash wallet. Each user will receive a unique free dog, which they can feed and train, and even trade with other digital pets.

This NFT can soon be played and traded in the metaverse. Watch this video of Transmira Founder and CEO Robert Rice from the recent CoinGeek New York, where he takes us to the metaverse and how NFTs like Duro Dogs and virtual assets can live, be used and be monetized with other digital properties in this exciting new digital world.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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