In the latest legal chapter of the ongoing Satoshi Nakamoto identity saga, self-proclaimed Bitcoin creator Craig Wright has been unable to satisfy a U.K. High Court judge that he has sufficient funds to cover potential legal costs in his lawsuit against cryptocurrency exchanges Coinbase and Kraken.
Wright is suing the exchanges for trademark infringement, arguing that he owns the rights to the name “Bitcoin” and the exchanges cannot use the term for assets like BTC and BCH that allegedly deviate from his original system.
In a preliminary judgment, the Hon., Mr Justice Mellor ordered Wright’s company Wright International Investments Ltd (WII), to provide security deposits of £250,000 and £150,000 for the legal costs of Coinbase and Kraken, respectively.
However, the judge declined to make the same order against Wright personally, stating,
“I was not satisfied by the evidence from the Cs filed in support of the contention that…
