Ripple CTO David Schwartz has reacted to the legal win of self-proclaimed Satoshi, Dr. Craig S. Wright, in a UK court. He said on Twitter: “This lawsuit is nonsensical. Dr. C.S. Wright doesn’t need any particular person to write code; he can do that himself. He is trying to get a court to compel people to persuade others to run that code.”
Schwartz continued, “Developers have no legal right to tell anyone else or make anyone else run any particular code. Craig is trying to compel developers to make particular arguments to persuade other people to run the code he wants them to run.”
The reaction led to an exchange of words between Craig Wright and Ripple CTO David Schwartz, with Craig Wright saying “XRP is a complete scam.” Cryptolaw founder John Deaton replied, “Pot, kettle, black.” Computer scientist Craig Wright claims to be Satoshi Nakamoto, the person behind the anonymous creation of Bitcoin.
The United Kingdom Court of Appeal decided that the trial for a lawsuit brought by Craig Wright’s Tulip Trading against 16 Bitcoin developers should go to trial in London. The initial claim was denied in March 2022.
To grant Wright access to 111,000 bitcoin (BTC) from two wallets whose private keys were allegedly taken and then deleted in a hack, the claim asserts that the developers owe “fiduciary responsibilities” and “duties in tort” to modify the protocol code.
The 1Feex wallet, one of the wallets Wright claims to possess, has roughly 80,000 BTC connected to the hack of Mt. Gox, the Tokyo-based bitcoin exchange that went out of business following a string of cyberattacks between 2011 and 2014.
As a result, his ownership of the coins is debatable. According to Wright, Bitcoin developers could easily alter the protocol’s code to give him back the keys to the funds.
The recent outcome of the Coinbase lawsuit may have a significant impact on its decision to relist XRP.
United States District Judge Paul Engelmayer dismissed a class action suit brought by Coinbase users who claimed the exchange had offered them unregistered securities.
Additionally, LBRY has requested that Coinbase relist XRP. Using the criteria of the US Securities and Exchange Commission complaint against LBRY, LBRY claims that XRP sold in secondary markets does not qualify as a security.
Unsurprisingly, the XRP community has been inundated with similar calls in response to these.
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