Home Cryptocurrency The Story Behind 1.1 Million Bitcoins And The Tulip Trust

The Story Behind 1.1 Million Bitcoins And The Tulip Trust

The Story Behind 1.1 Million Bitcoins And The Tulip Trust

  • A trial document was submitted by CSW’s lawyers to tue Ud District Court of Southern District of Florida on January 14, 2020.
  • The trust institution would be handing over Bitcoin to CSW in January 2020.
  • The claim suggests that because CSW had stared that Dave owned at least 300,000 bitcoins, so, he should have at least 300,000 bitcoins.

On December 8 in 2015, a document speculated to be copied by Dave Kleiman to Craig Wright was disclosed in 2011z. It showed that there was a trust which holds 1.1 million bitcoins, and this trust would be handed to CSW on January 1, 2020.

Then, a trial document was submitted by CSW’s lawyers to tue Ud District Court of Southern District of Florida on January 14, 2020. This led to the disclosure that a third party had provided the necessary information and key fragments to unlock the encrypted file.

The story of Satoshi Aumoto and 1.1 million Bitcoins CSW’s lawyer filed with the Federal District Court for the Southern District of Florida is known to everyone.

On researching, it appears out that the document which exposed in 2015 might be right. The trust institution would be handing over Bitcoin to CSW in January 2020. This indicates that 1.1 million bitcoins would be unlocked to put into circulation.

The moment this news hit the town, there was an uproar. However, four days later, on January 18, CSW’s lawyers informed the blockchain media Decrypt that the documents CSW currently received did not contain the private keys.

If CSW has obtained the private key to unlock Bitcoin or not is still a question mark, and one would have to wait and see how the court will determine the ownership of Bitcoin.

Further, all materials and information related to the Tulip Trust have been provided by CSW unilaterally. Also, the court’s decision based on a series of documents that were provided by CSW. This also includes many Dave-signed contracts, but the authenticity of these contracts later questioned.

It is worth noting that this is the first time that CSW has mentioned a trust institution and the Bitcoin deposited in the trust.

As per the documents provided by the Inland Revenue Department, Ella found out that the facts were not what CSW told himself. Dave and CSW own W & K assets conjointly.

Dave had also signed a statement to use these assets in exchange for the equity of an Australian company. The fact remains that CSW systematically transferred W & K’s assets to his name.

This has to be the first time when the public came to know that there might be a trust which holds 1.1 million bitcoins and would belong to CSW after January 2020. Later on, this trust was named the Tulip Trust.

On communicating with Ella, CSW had indicated that there existed a bitcoin, out of which 300,000 belonged to Dave and 700,000 belonged to itself. The claim suggests that because CSW had stared that Dave owned at least 300,000 bitcoins, so, he should have at least 300,000 bitcoins.

CSW also acknowledges that Ella owns half of W & K, so he should have at least 550,000 bitcoins. As Dave is the sole employee of W & K, he is entitled to all 1.1 million bitcoins mined by W & K.

Additionally, there also exists a Tulip Trust Fund II, and its main heirs are CSW himself and CSW’s wife.

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Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.

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