Tether Backs up a Podcaster in a Lawsuit Game against a Bitcoiner

Tether Backs up a Podcaster in a Lawsuit Game against a Bitcoiner

Craig Wright, a Bitcoiner, sues Peter McCormack, a podcaster from What Bitcoin Did, after alleging that he invented the famous cryptocurrency Bitcoin. Now, the scandal continuous to get more exciting as the alleged inventor faces Tether.

Tether, the fourth-biggest cryptocurrency, makes the issue more thrilling after announcing that the company will back up McCormack in a lawsuit. The $4.1-billion USDT issuer pledged to defend McCormack as Wright’s lawsuit claims himself as Satoshi Nakamoto, who is the legit creator of Bitcoin.

The general counsel of Tether, Stuart Hoegner, made a statement on Twitter about the plenty of opportunities that Wright has to prove that he’s Nakamoto, yet he had not done. Due to the inability to verify the claim, Hoegner also said that they would support McCormack in the United Kingdom during his defense of trial. Furthermore, he also shared on Twitter that they admire the conviction of Peter, and they are committed to the game.

Wright filed a case against McCormack in April after he claimed that he was the person behind Bitcoin. McCormack called him a bluff.

McCormack explained how it would cost him to get full support from a lawyer. He shared that the first defense will cost £25,000 to £50,000, and the entire trial will cost £500,000 to £750,000. Moreover, he also mentioned that the worst case is to lose, which can cost £1.5 million.


The case grew more peculiar as Wright uploaded a false document in August. The paper was supposed to be written in the year 2007 to the SSRN database. The date is crucial because the report repeats the original Bitcoin whitepaper’s first line. However, McCormack revealed that the creation date was not 2007, but in August 2019. This revelation was after checking the metadata.

As McCormack continues to keep his innocence, a significant number of people in the cryptocurrency community showed their support. They are all supporting him the way how Tether is currently doing.

Binance’s CEO, Changpeng Zhao, attacked Wright the Bitcoiner and called him a fraud. He also removed Bitcoin SV (BSV) from the exchange. Furthermore, he offered to contribute $10,000 Binance coin (BNB) to pay for the legal fees that McCormack will have to face.

Aside from the help that McCormack will receive from Tether, Binance, and the people from the crypto community, Bitcoin also includes itself in the list. Jameson Lopp, a Bitcoin developer, offered to testify in the court, and fly to the United Kingdom against the alleged Bitcoin inventor, Wright.

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