Craig Wright Ends Lawsuit Against Bitcoin Developers

Dr. Craig Wright, who has claimed to be the inventor of Bitcoin, has officially dropped his lawsuit against 12 Bitcoin developers in the Tulip Trading Limited v. Bitcoin Association for BSV & Others case, as announced by the Bitcoin Legal Defense Fund on Wednesday.

This lawsuit’s conclusion is seen as the culmination of a decade-long ordeal that centred on Wright’s controversial claims. Wright had accused the developers of refusing to assist him in recovering 111,000 BTC, which he alleged were stolen in a hack. The case raised fundamental questions about the responsibilities of Bitcoin developers and their control over Bitcoin’s code and assets.

The Bitcoin Legal Defense Fund celebrated the lawsuit’s discontinuation as a victory, stating it frees developers to contribute to Bitcoin without fear of litigation or harassment. The sentiment was echoed by former Twitter CEO and notable Bitcoin advocate Jack Dorsey, who has been a backer of the Defense Fund.

Matt Corallo, a prominent Bitcoin Core contributor, also commented on the matter, highlighting the financial and moral support from the community that helped withstand what he described as a baseless legal challenge. “Thanks to the generous donors who propped up the millions of GBP this case [cost], in spite of its obvious nonsensical nature,” Corallo tweeted.

The legal saga surrounding Wright took a decisive turn earlier this year when UK High Court Judge James Mellor ruled unequivocally that Wright was not Satoshi Nakamoto, the pseudonymous creator of Bitcoin. This judgment was part of a series of findings that also dismissed Wright’s claims of authorship of the Bitcoin whitepaper and involvement in the creation of Bitcoin.

Following this judgment, a court order was issued to freeze over $7.4 million of Wright’s assets to cover the legal fees of the Crypto Open Patent Alliance (COPA) and to prevent him from potentially dissipating his assets.

This case’s resolution marks an important victory for the Bitcoin development community, which has faced years of legal pressure from Wright. The lawsuit’s dismissal is expected to have a lasting impact on the community, reaffirming the independence of Bitcoin developers and their role in maintaining and developing the network without undue interference.

The Bitcoin Legal Defense Fund’s announcement highlights the broader implications for the crypto community, emphasizing that the ecosystem suffers when developers are hindered by legal threats. This victory not only alleviates these pressures but also serves as a reminder of the strength and resilience of the Bitcoin community in supporting its contributors against unfounded claims.