Tether Pulls Off Its Funding For McCormack’s Defence, A Truth or Lie

Tether Pulls Off Its Funding For McCormack’s Defence, A Truth or Lie

Stuart Hoegner who is General Counsel for Tether informed that Tether is fully supporting the claim of Peter McCormack.

In the year 2019, McCormack raised certain allegations against Peter Wright – an Australian nation. McCormack accused Wright to be a “fraudster”. He also denied the claim of Wright in which he claimed that Wright is the real “Satoshi Nakamato”.

Satoshi Nakamato is known to be the developer of Bitcoin but his identity has not been disclosed to the world.

However, McCormack’s accusations towards Wright gave rise to a dispute between the two. Later on, Wright instituted a suit for libel and defamation against McCormack in the jurisdiction of the United Kingdom. The suit is pending since April 2019 in which various hearings have taken place but no final judgment has been passed.

Tether, which did not believe that Wright is Satoshi, since then aided its full support to the claim of McCormack.

Another war started off between Wright and McCormack which was evidently can be seen at the social media websites. In this media war, some believed that Wright is actually Satoshi but to some, he was only a liar.

During this Tether started to support McCormack who was defending the suit filed against him by Wright. Tether also said that it will support McCormack in every way possible which also hinted at providing financial assistance as well.

However, recently an article got published by Coingeek which alleged that Tether had pulled off it’s funding to McCormack. In response to this, Hoegner in his tweet on 24th October denied the claim made in the article. Hoegner also told that Coingeek is run by Calvin Ayre because he is the ultimate owner of Coingeek. Ayre on the other hand is a time supporter of Wright, told Hoegner. This is why the article was published with mala fide intentions, said Hoegner.

On the other hand, even though Hoegner denied in his tweet but it seems Ayre is not accepting his denial.

Ayre also took his grievance to Twitter and told that he was reached by McCormack’s lawyer who insisted upon settling the dispute. Ayre told that this is so because McCormack’s lawyer specifically stated that their funding was cut by Tether.

Wright is known to have instituted several lawsuits against various individuals who claimed to be Satoshi. However, the actions of Tether funding McCormack’s defense also strengthens the argument that Wright is actually Satoshi.

The case is still pending adjudication and a further hearing is due in November.

In August 2020 as well, Wright had filed a similar suit against the protagonist of Bitcoin Cash namely Roger Ver. The suit was filed in the jurisdiction of Antigua and Barbuda. On another occasion, he had taken to task Adam Back, CEO of Blockstream. However, the suit against Blockstream was later on unconditionally withdrawn by him. In addition, he agreed to compensate the defendant by paying the legal costs and fees.

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