DeFiStablecoin

Craig Wright takes up arms against DeFi and stablecoins

The self-proclaimed Satoshi Nakamoto, Australian Craig Wright, called the DeFi and stablecoin projects a scam and accused their creators of illegal activities.

During the virtual conference Reimagine 2020, Craig Wright  told event moderator Patrick MacLain that DeFi schemes offering lending and borrowing and stablecoins are “illegal, not registered or licensed.”

The creators of the DeFi projects are “scammers … criminals taking your money, period,” he told McLane. Wright also gave his opinion on decentralized oracle networks like Chainlink:

“We have a decentralized oracle.” Well, of course! You can sue me! ” Wright said.

The entrepreneur also expressed uncertainty about the availability of collateral for stablecoins. It seems that Wright attributed all the stablecoins to the problems of USDT, whose team never released a comprehensive audit of their reserves. That being said, other stablecoin projects, such as USDC, have published similar data in the past.

When McLain asked Wright about his views on decentralized exchanges, Wright stated that “there is no such thing … these exchanges are still run by humans.” Wright concluded by stating that Bitcoin is “not a decentralized network in which each node performs its own function.”

“Your node is not helping the network unless you are a miner,” he said.

Craig Wright appears with enviable regularity in industry media publications, most often in connection with various scandals, investigations and other questionable situations. In May, the owner of 145 Bitcoin addresses mined in 2009 accused Craig Wright of fraud. In court, Wright claimed that he owned these addresses, but lost access to them.

In January, Wright said that he gained access to 1.1 million bitcoins of Satoshi Nakamoto, which at the time was about $ 9.3 billion. After that, the altcoin rate of Bitcoin SV rose by almost 100%. In February, Wright, who repeatedly claimed to be the creator of Bitcoin, threatened to prosecute Bitcoin Core developers, accusing them of infringing on his intellectual property.

Wright has been trying to lay claim to the creation of Bitcoin for a long time. Last May, he  attempted  to copyright the White Paper and Bitcoin Code in the United States in his own name. The attempt was unsuccessful, as the Copyright Office reported that their powers did not allow them to acknowledge the authorship of the applicants applying to them.

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