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Peter McCormack Still Holds Tether’s General Council Support In Wright Case

Tether Becomes China’s Favorite Cryptocurrency as Spot Trading Rises

Stuart Hoegner stands as the General Counsel for both the Bitfinex crypto exchange and the Tether stablecoin operator. Recently, Hoegner was forced to rectify recent claims that Tether had dropped Peter McCormack, the podcaster, when it comes to his ongoing lawsuit against Crag Wright. Wright stands as an Australian national who claims to he is the one and only Satoshi Nakamoto.

Many Strange Turns

On the 24th of October, 2020, Hoegner was forced to call out, a crypto media platform, for its recent article. In its article, it was stated that Tether had pulled its funding from McCormack and his legal battle, which Hoegner declared was a blatant lie.

An interesting little tidbit is the fact that its owner, Calvin Ayre, stands as a high-profile supporter of Wright, backing his claims that Wright himself is the creator of Bitcoin (BTC).

Hoegner gave a short statement, reaffirming Tether’s support to McCormack, further claiming that the operator is convinced he is in the right in this case.

Ayre Doubling Down On His Claims

It was back in April of 2019 when Wright had filed a libel claim against McCormack in the UK. This claim was regarding McCormack accusing Wright of falsely claiming to be Satoshi, and thus committing fraud. At the time, Hoegner stated that Tether would back McCormack in his defense, hinting at financial support through doing so.

Ayre was not to be deterred, however, as he doubled down on the statement. He cited a letter sent from McCormack’s lawyer, claiming to want to settle thanks to cut funding. Ayre outright claimed that Tether were the ones funding him, even if there were no definitive statements about the matter, and concluded that Tether must have dropped its support, as a result.

Trigger-Happy With Lawsuits And Promotions

Alongside this, the man brazenly promoted Bitcoin SV (BSV), the “future” of crypto, as claimed by Wright and Ayre. He boldly declared that Tether execs must have figured out that Wright is Satoshi, allegedly. From there, he advocated moving to BSV over all other forms of cryptocurrencies.

Wright, a man supposedly confident in his status of being Satoshi Nakamoto, has been rather easily provoked, filing a number of defamation lawsuits against his rivals, perceived or real, within the crypto industry. Back in August of this year, Roger Ver, a proponent of Bitcoin Cash (BCH), was the latest victim of his rapid-fire defamation lawsuits, filing one in the High Court of Antigua and Barbuda.

This came shortly after a similar lawsuit in the High Court of England, filed against Ver, as well. Wright had this suit be dismissed back in 2019, and was further forced to drop a $125,000 libel suit against Adam Back, CEO of Blockstream, agreeing to pay the legal fees on his behalf as well.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.