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Craig Wright says he can’t access Satoshi Nakamoto’s $10 billion Bitcoin fortune

Craig Wright says he can’t access Satoshi Nakamoto’s $10 billion Bitcoin fortune

During his June 28 contempt hearing, Craig Wright told a federal court in Florida that he was unable to access his $10 billion Bitcoin fortune. Sources present during the deposition revealed that he also cried during cross-examination when explaining why he parted ways with Bitcoin back in 2010.

Emotions run high in Wright’s contempt hearing

Craig Wright’s bitter court battle with the estate of his former partner Dave Kleiman has been going on for more than a year. The case just recently started to show significant movement. After Wright failed to disclose his Bitcoin holdings on several occasions, a federal court in Florida ordered a hearing on June 28 as to whether he should be held in contempt of court.

The hearing, held on Friday, was to determine the level of sanction Wright should face for his violation of court orders. However, it was a hot topic in the crypto community, with many discussing the hearing’s implications on the Wright vs Kleiman case.

Inside sources revealed that a heated discussion didn’t only happen on Twitter—emotions ran high during the hearing, too. According to Bloomberg. At one point Wright forcefully threw a document provided by Kleiman’s lawyers and was rebuked by the judge, who said he would be “in handcuffs” if he did that again.

Long speeches leave many questions unanswered

Shortly after being reprimanded for unruly behavior, Wright continued to avoid giving direct answers to questions. Seemingly fed up with his long and disconnected speeches, the judge called a recess and urged Wright’s lawyers to have a talk with their client “about answering questions directly and not giving speeches.”

The whirlwind of emotions during the cross-examination was too much even for the court reporter, who Bloomberg says asked the parties to slow down.

But, the heated argument failed to answer any of the important questions asked by the Kleiman party. Wright reportedly cried during the deposition when he was asked why he left Bitcoin and disassociated from his Satoshi Nakamoto alias, as he claimed the “bad things” the cryptocurrency was used for was “too much” for him to handle.

The continued hearing, which is scheduled for August, will reveal the extent of the punishment Wright will endure for his contempt of court. Attorney Stephen Phalley believes that things are going Kleiman’s way and that the judge will take time before deciding to hold someone in contempt of court.

On the other hand, Calvin Ayre, the founder of CoinGeek, believes that either outcome of the hearing will prove that Wright is, in fact, Satoshi Nakamoto. In a June 29 tweet, Ayre said that those cheering for Wright to lose the case don’t realize that in order to lose the case, he “must” be Satoshi Nakamoto.

The crypto community was quick to respond to Ayre’s unfounded statement, with most saying his claims made absolutely no sense. Even Peter McCormack, the host of the “What Bitcoin Did” podcast and one of many recipients of Wright’s libel claims, chimed in.

McCormack said that he hoped Wright lost the Kleiman case, as it would mean he would have to pay out the $5 billion in Bitcoin that he surely doesn’t have.

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Priyeshu Garg
Author

Priyeshu Garg

Crypto Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

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