In a major development for the cryptocurrency community, the UK Supreme Court has denied Craig Wright’s final appeal in his libel case against prominent Bitcoin podcaster Peter McCormack. This definitive ruling marks the end of a five-year legal battle, with McCormack emerging victorious.
A Major Blow to Wright
In a major blow to Craig Wright’s self-proclaimed identity as Satoshi Nakamoto, the UK Supreme Court has rejected his final appeal in a libel case against Bitcoin podcaster Peter McCormack. This definitive ruling ends a five-year legal saga, with McCormack emerging victorious.
The dispute stemmed from McCormack’s podcast, where he repeatedly questioned Wright’s claims to be the Bitcoin creator and even labeled him a “fraud.” Wright sued for defamation, arguing these statements damaged his reputation. McCormack defended his words as fair comment, stating he was expressing genuine doubts based on publicly available evidence.
Lower courts sided with McCormack, finding his statements factual and within the bounds of free speech. Wright contested these rulings, culminating in today’s Supreme Court decision. The highest court upheld the previous judgments, dealing a decisive blow to Wright’s legal pursuit.
This landmark decision has significant implications for both free speech and the cryptocurrency community. It reaffirms the right to question controversial figures and hold them accountable for their claims, particularly when those claims have financial and technological ramifications. Furthermore, it sets a precedent for future legal battles surrounding Bitcoin’s enigmatic creator.
Who is Nakamoto?
While McCormack celebrates his victory, the question of Nakamoto’s true identity remains shrouded in mystery. The Supreme Court’s ruling, however, clarifies that public skepticism and robust debate are essential in navigating the often-turbulent world of cryptocurrency.
In an X postv celebrating the Supreme Court judgment, McCormack wrote:
“Two months before my trial and before we found the fabricated evidence, it looked like I would lose. I held multiple calls with my lawyers bankruptcy team. Craig’s costs would have wiped me out – £5m ish. My business assets – football club, podcast etc… would have been force sold to pay the court order. Craig himself could have ended up owning them. All my possessions would also have been sold. … This outcome would have destroyed my income and everything I had built up. These psychopaths are willing to destroy peoples lives with no care for the impact to either the person being sued, their children and wider families. Absolutely no mercy. Finish them!”