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Binance Survey Reveals 65% Would Donate to Anti-Craig Wright Legal Fund

Esther Kim

Esther Kim | May 07, 2019 | 18:00

News

Binance Survey Reveals 65% Would Donate to Anti-Craig Wright Legal Fund

Esther Kim

Esther Kim | May 07, 2019 | 18:00


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Two-thirds of cryptocurrency users would back a fundraising initiative to help those being sued by self-proclaimed Bitcoin creator Craig Wright.


Zhao Scheme Gets Majority Support

In a survey, Changpeng Zhao, CEO of cryptocurrency exchange Binance, asked followers whether they would back his plan to use the Blockchain to create a fund for legal fees and associated costs.

Wright, who alleges he is the entity behind Satoshi Nakamoto pseudonym, has recently begun sueing those who disagree with him on social media.

As Bitcoinist reported, it was Lightning Torch creator Hodlonaut who became the first victim of the campaign, with the community already pledging to assist him while coming out against Wright and his sympathizers.

Zhao also took a direct opposing stance, creating another survey and subsequently using the result to delist Wright’s Bitcoin SV token from Binance. Multiple other exchanges subsequently copied the move.

Wright subsequently sent lawyers’ summons to other well-known Bitcoin community figures, while reports last week also suggested Bitcoin Cash promoter Roger Ver had received a letter.

While Ver is not known to be short of money, however, Zhao said is concerned that Wright was targeting those without the ability to foot the costs involved with fighting a court battle.

“[Wright] is picking on the people who have a hard time fronting their legal fees,” he wrote Monday.

He suggested using Binance’s charity initiative, Binance Charity Foundation, to gather contributions which would ultimately return to donors should Wright lose the multiple lawsuits.

“The donations will be sent to selected lawyer directly from BCF, with proper verifications and tracked on the blockchain,” adding he would personally contribute $10,000 in Binance Coin (BNB).

And when the case is done, we should get the funds back from the lawyers.

At press time, 66 percent of the 700 respondents had voted in favor of the idea.

Wright Must Disclose Bitcoin Addresses

Wright meanwhile is already facing hurdles of his own. As part of different legal proceedings in which he himself is being sued for more than $6 billion, a judge has demanded the nChain chief scientist produce proof of which Bitcoin addresses he controls.

Wright has until May 15 to comply with the order, which comes as the sister of Wright’s former business partner accuses him of theft of intellectual property and conspiracy to commit theft.

Wright has remained vocal to the last, earlier this month calling John McAfee, the pro-Bitcoin entrepreneur currently running for US President, of being a “conman.”

What do you think about Binance’s fundraising plan? Let us know in the comments below!


Images via Shutterstock

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