Peter McCormack Still Has Tether’s General Council Support in Wright Case

Peter McCormack Still Has Tether’s General Council Support in Wright Case

The General Counsel for the Tether stablecoin operator and the crypto exchange Bitfinex is Stuart Hoegner. However, recently, he had been forced to rectify claims that Peter McCormack had been dropped by Tether when it comes to their legal battle against Craig Wright. An Australian national, Craig Wright has claimed that he is the mysterious Satoshi Nakamoto. On October 24th, 2020, a recent article by a crypto media platform prompted Hoegner to call it out. The article stated that Tether had pulled their funds from McCormack and his ongoing lawsuit, which Hoegner claimed was a flat out lie. 

One interesting tidbit is that Calvin Ayre, the owner of the media platform, is a high-profile supporter of Wright and has even backed his claims that he is the inventor of the first cryptocurrency, Bitcoin (BTC). Making a short statement, Hoegner said that McCormack has full support of Tether and further said that they believe he is on the right where this case is concerned. A libel claim had been filed by Craig Wright against McCormack in the United Kingdom back in April 2019. The claim was that McCormack had accused Wright of falsely claiming to be Bitcoin’s founder, thereby committing fraud. 

Hoegner had stated at the time that they would support McCormack in defending himself and would even lend him financial support. However, Ayre wasn’t ready to be deterred and doubled down on his statement. He said that McCormack’s attorney had sent a letter stating that they wanted to settle because of a cut in spending. He outright stated that McCormack was being funded by Tether, even when no definitive statements had been made about this matter and concluded that Tether had probably cut back their support. Along with this, the man promoted Bitcoin SV (BSV) quite brazenly and dubbed it as the ‘future’ of cryptocurrency. 

He went on to make bold claims like the fact that Tether executives had probably come to the realization that Wright was indeed Satoshi Nakamoto. Therefore, he said that it was a good idea for everyone to move to BSV instead of other cryptocurrencies. As far as Craig Wright is concerned, it appears that he is rather easily provoked instead of being supposedly confident in his identity of being Satoshi. A number of defamation lawsuits have been filed by Wright against his rivals, both real and perceived, within the crypto industry. The latest victim of these quick-fire defamation lawsuits was a proponent of Bitcoin Cash (BCH), Roger Ver. 

Wright filed a case against him in August of this year in the High Court of Barbuda and Antigua. A similar lawsuit had been filed against Ver in the High Court of England. The suit was dismissed back in 2019 by the court and Wright had also been forced to drop a libel suit of $125,000 against CEO of Blockstream, Adam Beck. In fact, he had also been forced to pay all of Beck’s legal fees as well.

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