Craig Wright says bad weather means he needs more time to challenge a court order that he must hand over half of his bitcoin holdings.
The case was brought by Ira Kleiman on behalf of his deceased brother David's estate in 2018. He sought to sue Wright – the entrepreneur who controversially claims he is the inventor of bitcoin – for $10 billion, alleging that Wright had tried to seize his brother’s bitcoin holdings.
On Aug. 26, the judge presiding in the case, Magistrate Judge Bruce E. Reinhart, ruled that Wright must give the Kleiman estate 50 percent of the bitcoin he mined prior to 2014, as well as half his intellectual property. The court considered that Wright had argued in bad faith, committed perjury and admitted false evidence during the case.
In the latest twist to the saga, Wright has entered a new document to the Florida court, seeking more time to challenge the judge's decision.
Blaming the approach of Hurricane Dorian for the need for a time extension to prepare his arguments, Wright says in the document:
It goes to say that with the hurricane due to hit Florida early this week, "counsel for Dr. Wright have been expending significant time preparing for the hurricane, which has limited their ability to work on this matter."
While his response was to have been lodged by Sept. 13, Wright hopes to be given an extra 14 days to file his challenge.
Hurricane image via Shutterstock
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.