Craig Wright Must Face Trial Over Alleged $11B Bitcoin Fortune as Request for Summary Judgment Denied

In a case involving the ownership of about 1.1 million bitcoin (worth over $11 billion), the federal court denied Wright’s request for a summary judgment on Monday.

AccessTimeIconSep 21, 2020 at 6:26 p.m. UTC
Updated Sep 14, 2021 at 9:58 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The District Court for the Southern District of Florida has denied Craig Wright’s request for summary judgment in a case that involves claims over ownership of about 1.1 million bitcoin (worth over $11 billion). 

In an order signed on Monday, Judge Beth Bloom at the Florida court denied Wright’s motion seeking summary judgment that would have prevented the matter from proceeding to a full trial. 

  • The case, first brought in 2018,  involves the plaintiff Ira Kleiman’s argument on behalf of the estate of his late brother David, that half of Wright’s bitcoin worth and intellectual property belongs to Kleiman. The plaintiff has argued that the bitcoin in question was also mined together by Wright and Kleiman.
  • Wright’s request for summary judgment was comprised of six claims including statute of limitations, the plaintiff’s inability to prove the existence of an oral partnership and the court’s lack of subject matter jurisdiction. 
  • In the past, Wright has claimed he was the inventor of bitcoin under the pseudonym Satoshi Nakamoto, an assertion many in the crypto world have disputed due to a lack of corroborating evidence.
  • According to an order issued by the Florida court on Sept. 4, the trial involving Wright’s bitcoin fortune has now been moved to Jan. 4, 2021. 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.