Tether’s general counsel Stuart Hoegner has claimed to be helping podcaster Peter McCormack in a lawsuit filed by Craig Wright, the Australian national claiming to be bitcoin creator Satoshi Nakamoto. Hoegner blames crypto media platform Coingeek for abandoning the host of the “What Bitcoin Did” podcast in his defense against Wright. Wright sued Peter McCormack for defamation in April. The case went to court after McCormack challenged Wright to prove that he was the inventor of Bitcoin. Because Craig Wright has failed to prove his claim, Hoegner stated that Tether would double down on support McCormack in the defense process. Litigation in the case is ongoing.

Why it matters: It is very strange that Craig Wright would sue anyone over defamation, given the fact that he refuses to prove that he is Satoshi Nakamoto. There is little gray area when it comes to making a disparaging claim about someone, or their achievements. By saying that he was the victim of defamation, Wright is claiming that he is in fact Satoshi Nakamoto, regardless of the lack of evidence. From a broader perspective, the entire affair is a sideshow, and doesn't seem to matter much to the crypto markets. We will have to wait and see if the real Satoshi Nakamoto ever surfaces. For the moment, the identity of Satoshi Nakamoto will remain a mystery.