In 2018, Ira Kleiman, the brother of Wright’s late business partner Dave Kleiman, sued Craig Wright for allegedly attempting to appropriate the estate’s massive 1.1 million BTC holdings held in a family trust. These coins were jointly owned between Wright and Kleiman. (cryptoslate)

Craig Steven Wright (or how others are calling him: “faketoshi”) lost a battle, the Kleiman v. Wright case. Craig Wright must turn over half of his bitcoin holdings and intellectual property to the estate of Dave Kleiman, a judge ruled. Craig is not the only faketoshi out there, as recently Bilal Khalid, aka James Caan joined the faketoshi circus.

Circus aside, Wright and Kleiman mined about 1.1 million bitcoins, which are stored in something called the “Tulip Trust” (pun intended?). Take this information with a grain of salt, as there is a lot of speculation happening around this, including claims that Wright is the leader of the Satoshi Nakamoto “Group”. /r/bitcoin has known about the Tulip Trust for some while, and the current burning question is: how will the 550,000 BTC be collected from Wright? (Mitchell Moos from cryptoslate is suggesting that the answer might likely involve selling a whole lot of Bitcoin SV).

Cointelegraph gets pwned by their audience on FUD post

Cointelegraph is arguing that Kleiman Estate Will Now Dump $2 Billion in Bitcoin, although I cannot follow this logic, as this would mean that Wright would have to really have the keys to the stash, which he possibly has not. I am recommending for readers to read through the comments of the article at Cointelegraph, which seem to show a better grain of journalistic integrity than the actual articles can (i am not a big fan of CT as you can guess).

Screenshot of an angry commentary on the Cointelegraph article titled “Craig Wright: Kleiman Estate Will Now Dump $2 Billion in Bitcoin”

I am really loving the fact that Cointelegraph commenters are taking over and crowdsourcing better journalism than the actual site can provide. As another commenter is putting it: “Seems like Craig Wright is misinformed and the estate tax would not be anything close to $2 billion … Florida has no estate or inheritance tax. The Federal tax due will be based on a cost basis of the property when the decedent, Dave Klienman, died, April 26, 2013.”

What will happen now is not entirely clear yet, and as Nikhilesh De from Coindesk correctly puts it, “[the judges] order will have to be adopted by the District Judge, Beth Bloom, before becoming final. This also assumes that Wright’s attorneys do not file any exceptions or objections”. So in no reality the “dumpening” will be happening tomorrow. Hell, BCHSV even went up almost 4% in the past 24 hours, illustrating again that market cap of the cryptocurrency space is an idiotic measure.