On November 23rd, Tuesday, the closing arguments of both sides of the trial of Kleiman v. Wright came to an end and now the fate of the billion-dollar bitcoin lawsuit will be decided by ten jurors. According to Craig Wright, he is the mysterious Satoshi Nakamoto, the founder of the world’s first cryptocurrency i.e. Bitcoin. He has also claimed that the now-deceased Dave Kleiman did not play any role in creating the pioneer cryptocurrency. The plaintiffs hope that they will be able to walk away with intellectual property (IP) that’s believed to be worth billions of dollars, along with a large sum of money. 

The Kleiman v. Wright trial has become infamous and the crypto community is now keeping their eye out for the long-awaited decision that will be made by a jury in Miami, Florida. The attorney of the plaintiffs who represents the Kleiman estate is Vel Freedman and he made a tweet after the closing arguments were over and jury deliberations had begun. The lawyer posted an update on twitter and said that the case had been submitted to the jury and now it was time to wait for their decision. Freedman also took this opportunity to thank some of the colleagues that had assisted his law firm in dealing with case.

After the closing arguments have been made, it is now the responsibility of the ten jurors to make a decision. However, the jurors were unable to come to a decision on Tuesday and they will now convene once more on the coming Monday. Kurt Wuckert Jr. of Coingeek also tweeted about the case and gave compliments to Freedman after the closing arguments. He said that Val Freedman had had a very strong finish in the case. He said that Rivero had suffered from technical difficulties because he accidentally spilled water on some of his notes. 

Eventually, he was able to catch his stride and made some good points, but it was Freedman for Kleiman who had a very effective and direct finish. According to different estimates, the judgements of the lawyers could lead to a massive order if things go in favor of the plaintiffs. Jordan Atkins, Coingeek’s contributing writer, has estimated that the judgement could lead to Kleiman getting a portion of the Bitcoin fortune that would be worth a whopping $70 billion. Deirdra Funcheon, CoinDesk author projected that the judgement could be about $36 billion, which was the value of bitcoin involved and $126 billion, which was the value of intellectual property involved.

Furthermore, a victory for the Kleiman estate would also mean punitive damages worth billions of dollars. Some said that the amount of money that the plaintiffs have demanded is staggering and if they manage to get it all, including punitive damages and that for civil theft, then it could come close a trillion-dollar judgement. It is interesting to note that the jury needs to be unanimous in their decision. The final proceedings have been delayed by a full six days due to the Thanksgiving holiday because jurors could not come to a decision on Tuesday. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here