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Tether Pushes Back on Allegations of Dropping Support for Peter McCormack

Renowned crypto industry lawyer, Stuart Hoegner, the general counsel for stablecoin issuer Tether and crypto exchange Bitfinex, has publicly denounced claims made in a recent CoinGeek article. Specifically, the article postulated that podcaster Peter McCormack has been abandoned by Tether in the legal battle against Craig Wright, an Australian who has publicly claimed that he is Satoshi Nakamoto.

“This is a lie,” Hoegner wrote on Twitter. CoinGeek has been described by other news outlets in the crypto sphere as being “BSV-focused”, referring to Bitcoin Satoshi’s Vision, the cryptocurrency that Craig Wright is factually known to be the creator of.

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In the suit, Wright sought more than £100,000 (over $130,000) in damages and legal costs and court fees.

However, Tether came to McCormack’s aid in November of 2019 when Hoegner announced on Twitter that Tether was siding with McCormack and would be offering financial support for the lawsuit’s legal proceedings.

“Litigation can be drawn-out and expensive, but we are committed to the long game,” Hoegner wrote on November 8th, 2019.

“We admire Peter’s conviction and are humbled to support his defence against what we see as frivolous and vexatious litigation.”

While McCormack’s legal drama related to denial of the claims that Wright is not Satoshi Nakamoto seems to be the most drawn-out, this was not the only lawsuit that Wright attempted to file. Wright also came after Ethereum creator Vitalik Buterin for similar reasons but later dropped the suit.

Furthermore, throughout the year, Wright has been wrapped up in a legal battle against the estate of David Kleiman, his former business partner, related to his claims that he is Satoshi Nakamoto.


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