C. Wright to Challenge Court Order

Court ruled mr. Right to pay his former business partner Dave Clayman family more than 500,000 BTC
02 September 2019   541

Craig Wright, an Australian entrepreneur who has been trying in vain for several years to prove to the community that he is the creator of Bitcoin, intends to challenge the court decision, in which he must pay the family of his former business partner Dave Clayman more than 500,000 BTC. This is reported by the Cointelegraph.

As it became known, on August 30, Wright's lawyer Andres Rivero sent a petition to the District Court of the Southern District of Florida with a request to grant a 14-day delay in appealing the decision to recover from Craig Wright half of all bitcoins and intellectual property rights that he allegedly owned until 2014 years, in favor of the relatives of deceased Dave Kleiman.

According to the document, Craig Wright believes that Judge Bruce Reinhart did not have the necessary authority to make such a decision and that the Australian lawyers team would need an additional 14 days to evaluate its legal force.

Officially, the appeal deadline is September 10th, and if the application is granted, this date will be postponed to September 24th.

It is noteworthy that as one of the reasons for the postponement of the time, lawyers also cite circumstances of an exceptional nature - Hurricane Dorian, which threatens to soon fall on Central and South Florida and thereby limit the possibilities for full-fledged work.

Andres Rivero also emphasizes that the petition was filed “on the basis of best intentions”, and not with the aim of delaying the case.

The Kleiman v. Wright case affects 1.1 million BTC in a certain Tulip Trust. However, the existence of this trust, presumably protected by a complex cryptographic scheme and legal barriers, remains in great doubt, as is the fact that Wright is indeed Satoshi Nakamoto.

Nevertheless, when deciding last week, Judge Reinhart did not understand whether the Australian scientist created Bitcoin, after which the lawyer of the latter concluded that the court decision only proves this. You can read more about the process here.

It is noteworthy that Ira Kleiman, the brother of the deceased computer criminalist, will have to pay 40% of the amount awarded to him if Wright does not manage to challenge the decision of the district court in the court of appeal. Some have already expressed concerns that this may adversely affect the price of bitcoin. However, after several years of embarrassment, almost no one in the community takes Wright’s claim to Satoshi’s laurels seriously, respectively - it is unlikely that he ever owned such bitcoin capital at all.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   296

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.