UK Judge Debunks Craig Wright's Bitcoin Claim, Ethereum Upgrade Stabilizes Fees, and Dogecoin Value Soars on Musk's Tesla Hint
Summary:
A UK judge rules Craig Wright isn't Bitcoin's creator in a case filed by the Crypto Open Patent Alliance (COPA). Meanwhile, Fuel Labs' CEO states Ethereum's Dencun upgrade will primarily offer more stabilization and less fee reduction. Elsewhere, Dogecoin's value witnessed nearly a 10% uptick following Elon Musk's hint that the cryptocurrency might be accepted as payment for Tesla cars.
Reports emerged that a judge in the United Kingdom has confirmed that Craig Wright isn't the originator of Bitcoin. The ruling is a verdict in a legal dispute filed by the Crypto Open Patent Alliance (COPA) against Wright, a computer science professional. Simultaneously, excitement builds up in the cryptocurrency industry as Ethereum preps for its Dencun upgrade. Fuel Labs' CEO imparted to Cointelegraph that the primary advantage of this upgrade would be enhanced stabilization than a fee reduction. In other news, Dogecoin's value increased by almost 10% when SpaceX's CEO Elon Musk suggested that the meme-inspired cryptocurrency could be officially received as payment for Tesla vehicles.
It has been reported that Judge James Mellor of the United Kingdom stated that Craig Wright, who has claimed to be Satoshi Nakamoto, the mysterious creator of Bitcoin, is not the entity in question. The judgement was delivered on March 14 in relation to a lawsuit COPA launched against Wright.
COPA's concluding submission notes that, "Dr. Wright has been shown to have produced an entirely false life story and numerous fabricated documents to back this claim.” As per Judge Mellor, "Dr Wright is not the author of the Bitcoin White Paper" and "Dr Wright is not Satoshi Nakamoto."
Established in 2020, COPA, with a strength of 33 members, aims to foster the adoption and progress of cryptocurrency technologies, and eliminate patents as a hindrance to growth and innovation. Some of the alliance's prominent members are Coinbase, Block, Meta, Kraken, and MicroStrategy.
As per Nick Dodson, co-founder and CEO of Fuel Labs, in a special Cointelegraph interview, the principal benefit of the Dencun upgrade would be fee stabilization rather than fee reduction. Dodson clarified that the upgrade focuses on enhancing capacity and scale and it's less about fee deduction.
Elon Musk suggested that Dogecoin might become an acknowledged payment method for Tesla vehicles. During a public interaction held at the Berlin Gigafactory, a Tesla manufacturing plant, on Mar 13, Musk indicated a positive response when an audience member inquired about the possibility of purchasing a Tesla with Dogecoin in the future.
Following Musk's comment, Dogecoin's market price escalated from $0.172 to $0.188, marking an increase of 9.3%. Musk reiterated his support for the digital currency by announcing, "Dogecoin to the moon."
This article is without investment guidance or suggestions. Investment and trading moves have inherent risks, and it's advised that readers carry out personal research before making any decisions.
Report contributors include Geraint Price, Sam Bourgi and Felix Ng.
Published At
3/14/2024 10:10:45 PM
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