Craig Wright accuses Coinbase and Kraken of trading "fake bitcoin"

The law firm Ontier, which represents the interests of Craig Wright, the self-proclaimed “creator of Bitcoin,” filed lawsuits on April 29 against trading platforms Coinbase and Kraken. The plaintiffs allege that these and other exchanges encourage traders to trade bitcoin by passing it off as another digital asset.

According to Ontier’s lawyers, the cryptocurrency known as BTC is actually just the “core of Bitcoin,” and the only cryptocurrency that fully implemented the original Bitcoin protocol should be considered the “modified” crypto asset BSV (Bitcoin Satoshi Vision).

Wright argues that "misrepresentation" by Coinbase and Kraken has led to confusion among investors and traders about the authenticity of the crypto assets they buy and sell. "improper" use of its sign or name. “These actions change the rules of the game in the cryptocurrency market.

If BTC does not strictly conform to the original Bitcoin protocol, it cannot be called Bitcoin, nor can it be traded or referred to as such. Crypto asset owners need to know exactly what they are buying. Bitcoin has always been designed as a peer-to-peer electronic payment system, not as a store of value,” said Ontier attorney Simon Cohen.