CoinDeskPolicyPublished on 2024-04-10Last updated on 2024-04-11

Abstract

Wright’s decision to drop his appeal comes a month after a U.K. court ruled that he was not Satoshi Nakamoto.

  • Craig Wright has dropped his appeal against Hodlonaut in Norway.
  • The decision to drop the case comes a month after a U.K. judge definitively ruled that Wright is not the inventor of Bitcoin.

Craig Wright has dropped his appeal against Norwegian bitcoiner Hodlonaut, ending a nearly five-year-long legal battle over a series of social media posts in which Hodlonaut called Wright a “scammer” and a “fraud” for claiming to be the inventor of Bitcoin.

A Norwegian judge sided with Hodlonaut after a 2022 trial in Oslo, concluding that he had “sufficient factual grounds to claim that Wright had lied and cheated in his attempt to prove that he is Satoshi Nakamoto.” Hodlonaut brought the case against Wright to preempt him from moving forward with a defamation case about the same social media posts in the U.K., where laws are heavily tipped in favor of the plaintiff, and monetary damages can be enormous.

The infamously litigious Wright appealed the court’s decision. But, according to Hodlonaut, Wright has now dropped that appeal.

Advertisement
Advertisement

“Just got off the phone with my Norwegian lawyer. CRAIG WRIGHT DROPPED THE APPEAL IN NORWAY!,” Hodlonaut wrote in a social media post, adding, “I’m very happy!”

Wright’s decision to back down comes just a month after he lost a separate court case in the U.K. that severely hobbled his ability to claim Satoshi’s throne. The Crypto Open Patent Alliance (COPA) sued Wright in 2021 in order to prove that he was not, in fact, the inventor of Bitcoin and to stop him from being able to claim copyright of the Bitcoin whitepaper or sue Bitcoin developers or others under the guise of being Satoshi.

In March, U.K. Judge James Mellor found in favor of COPA, stating that Wright “is not the author of the Bitcoin white paper…is not the person who adopted or operated under the pseudonym Satoshi Nakamoto….is not the person who created the Bitcoin System…[and] is not the author of the initial versions of the Bitcoin software.”

The famously bellicose Wright has been largely quiet in the wake of Judge Mellor’s decision, as has his billionaire benefactor Calvin Ayre. The day after the COPA trial ended, Ayre posted a farewell message on X, saying that the message would be his “last” before taking off on “an adventure I have planned for the last year.”

Advertisement
Advertisement

Despite the conclusion of Wright’s appeal in Norway, other litigation involving Wright – including another defamation case against Hodlonaut in the U.K. – remains pending.

Representatives for Wright did not respond to CoinDesk’s request for comment.

Edited by Aoyon Ashraf.

Related Reads

Two Giants' Credit Expansion: Loan Balances of $9.9 Billion vs. $14.6 Billion, Brazil Emerges as the Main Battlefield

Title: Two Giants "Credit" Surge: Loan Balances of 99 Billion vs. 146 Billion USD, Brazil Emerges as Main Battlefield Summary: The article compares the rapid expansion of credit businesses by two major e-commerce and fintech players, Sea (via Monee) and Mercado Libre (via Mercado Pago), in overseas markets like Southeast Asia and Latin America, contrasting with a slowing domestic Chinese credit market. Using Q1 2026 financial data, it highlights their significant growth. Sea's Monee reached a loan balance of $99 billion, up 71% year-over-year (YoY), contributing 17.5% to Sea's total revenue. Mercado Pago's loan balance hit $146 billion, up 87% YoY, contributing 45% to its parent company's revenue. Both maintained stable risk metrics (e.g., Monee's 90+ day NPL at 1.1%) despite rapid scaling. Brazil is identified as a key and accelerating growth market for both. Sea's Brazilian operations saw loan volumes exceed $10 billion, growing 250% YoY, with SPayLater GMV penetration still low (~10%) indicating high potential. Sea also secured a key Brazilian financial credit license (SCFI). Mercado Libre's Brazil segment contributed over half (54%) of total group revenue, with its credit business there generating $11.24 billion in revenue, up 89% YoY and accounting for 12.7% of global revenue. Mercado Pago's credit portfolio, especially credit cards (46% of loans, +105% YoY), is a strategic focus, described as crucial as building logistics was a decade ago. Its net interest margin after loss (NIMAL) remains high at 17.8%. The article concludes that while Brazil presents immense opportunities, the success is largely driven by these integrated "e-commerce + fintech" giants with proprietary transaction data and ecosystems, making it challenging for standalone fintech players to compete effectively.

链捕手21m ago

Two Giants' Credit Expansion: Loan Balances of $9.9 Billion vs. $14.6 Billion, Brazil Emerges as the Main Battlefield

链捕手21m ago

Research Report Analysis: Is Intel Making a Comeback with Apple? Bernstein's Calculations Show the Right Direction, but the Price Is Already Overvalued

Bernstein analyst Stacy A. Rasgon published a report on June 18 regarding Intel, assessing the potential impact of recent political support for a US-based PC chip design and manufacturing collaboration between Apple and Intel. The report views this as a significant signal for the foundry landscape shift but concludes the initial financial contribution would be minimal. Key conclusions: 1) An Apple deal is seen as a small-scale "proof of concept." Even if Intel wins 40% of Apple's premium notebook chip orders (~5 million units/year), Bernstein estimates it would generate only about $500M in annual revenue and ~$0.03 EPS, negligible against Intel's ~$55B revenue. 2) Political encouragement is not equivalent to enforceable mandates. Winning orders ultimately depends on Intel demonstrating competitive technology (like its 18A node), cost, and reliable supply. 3) The path from validation to large-scale production involves significant challenges, capital investment, and time. Due to these uncertainties, Bernstein maintains a Market-Perform (Hold) rating with a $100 price target, implying potential downside from the ~$121.10 price at the report date. The analysis highlights the tension between near-term validation value—serving as a crucial trust signal for Intel's foundry ambitions and US supply chain resilience—and the long-term opportunity to attract larger cloud and AI chip customers. The investment thesis hinges on successful 18A execution and sustained policy support, not on immediate financial gains from Apple.

marsbit46m ago

Research Report Analysis: Is Intel Making a Comeback with Apple? Bernstein's Calculations Show the Right Direction, but the Price Is Already Overvalued

marsbit46m ago

27-Year Reign Ends: SK Hynix Market Cap Surpasses Samsung for First Time, an AI-Driven Reshuffle of Korean Chip Power

On June 22, 2026, SK Hynix made history by surpassing Samsung Electronics in market capitalization, ending Samsung's 27-year reign as South Korea's most valuable company. This dramatic reversal is powered by the AI boom and SK Hynix's dominant position in High Bandwidth Memory (HBM), a critical component for AI model training. Once a heavily indebted firm on the brink of bankruptcy, SK Hynix bet early on HBM, which has evolved from a niche product to essential AI infrastructure. It now commands a 59% share of the global HBM market. Its financial performance is staggering, with Q1 2026 net profit soaring nearly fourfold year-over-year to KRW 40.35 trillion, translating to over 2 billion RMB in daily net profit. HBM now drives roughly 40% of its revenue with exceptionally high margins. In contrast, Samsung, with its broad portfolio spanning memory chips, smartphones, and foundry services, has lagged in the HBM race while facing headwinds in other divisions. This shift signifies a deeper restructuring of South Korea's economy, moving from consumer electronics to AI-driven growth. However, the future remains competitive. With major capacity expansions planned industry-wide by 2028 and Samsung aiming to catch up in HBM technology, the new market leader cannot afford complacency. This event marks a pivotal moment in the global semiconductor industry's ongoing power realignment.

marsbit57m ago

27-Year Reign Ends: SK Hynix Market Cap Surpasses Samsung for First Time, an AI-Driven Reshuffle of Korean Chip Power

marsbit57m ago

Trading

Spot
Futures
活动图片