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In a new development concerning the cryptocurrency industry's long-standing Kleiman v. Wright case, Ira Kleiman's appeal against self-proclaimed Bitcoin creator Craig Wright was denied earlier this Thursday.
The decision has set the focus back on the ongoing issue of ownership of W&K through Wright's wives' court cases.
The rejection's basis
The U.S. 11th Circuit Court ruled against granting a new trial, stating that the deference to the district court was particularly appropriate when a new trial was denied, and the jury's verdict remains unchanged. This is especially significant when considering whether remarks or misconduct gravely impacted the jury's calm and impartial evaluation of the case.
During the trial, the district court granted a motion to limit evidence about Ira Kleiman’s relationship with his brother, David Kleiman.
The intent was to avoid undue prejudice since there were concerns that the jury would decide based on Ira Kleiman’s relationship with his late brother.
Despite this, there were allegations that Wright's counsel knowingly breached this order by bringing up details about the sibling relationship.
The Estate pushed for a new trial based on these alleged breaches. The district court, however, felt these purported violations were not so detrimental as to warrant a new trial.
The court's ruling indicated that the trial's outcome was unlikely to have been swayed significantly by the alleged infractions.
The initial ruling's details
Back in April 2022, the estate of the late computer scientist appealed against a Florida court's decision favoring Craig Wright.
The crux of the case revolves around intellectual property rights related to Bitcoin and a vast sum of the cryptocurrency, now valued in the billions. David Kleiman's estate was awarded $143 million but was denied the more valuable Bitcoin holdings.
Ira Kleiman initiated this lawsuit in 2018, representing the estate, claiming that the Bitcoin in question was worth over $10 billion.
Fast forward to today, the 1.1 million bitcoins involved are valued at over $47 billion. The heart of the disagreement stems from who mined these Bitcoins. Wright asserts that he is the infamous Satoshi Nakamoto, a claim that remains contested within the industry.