It appears that Craig Wright is running low on cash, as he failed to finance his court settlement negotiated with the Kleiman estate. Craig Wright, who claims that he is the creator of Bitcoin, had been accused by the brother of now-deceased David Kleiman of stealing bitcoins.
Is Craig Wright Running Low on Cash?
A court document filed in the Southern District of Florida indicates that Craig Wright has pulled out of the settlement agreement in which he agreed to give up his bitcoins that had been mined before 2014.
Since the settlement has been broken, the case is back on. In late August, Wright was held in contempt of court because he hadn’t disclosed his complete list of bitcoin addresses. Supposedly, his holdings amount to 1.1 million bitcoins.
Back then, Wright claimed that the funds were inaccessible because of the way in which it was encrypted as well as the death of his former business partner, David Kleiman.
There had been concerns that the self-proclaimed Satoshi Nakamoto could end up having to turn over his holdings and that this could cause a BTC dump.
Wright’s Legal Battles
It’s safe to say that Craig Wright’s legal battles require a lot of resources. He has previously stated that he intends to take anyone to court who denies his claim of being Satoshi Nakamoto. One such case involved popular cryptocurrency podcaster Dr. Peter McCormack.
Wright filed a libel claim against McCormack in the amount of £100,000. McCormack has since fought his case and attempted to show that Wright isn’t, in fact, Satoshi Nakamoto.