Core Foundation Claims Maple Misused Confidential Data: Court Says ‘Serious Issue to Be Tried’

Core Foundation has issued a detailed statement commenting on its dispute with Maple Finance after the Grand Court of the Cayman Islands granted an injunction against Maple over alleged breaches of commercial agreements related to the development of lstBTC, a Core-powered liquid-staked Bitcoin token.

The injunction was granted after the Court found a “serious issue to be tried” regarding Maple’s alleged misuse of Core Foundation’s confidential information and breach of a 24-month exclusivity clause. Under the order, Maple is prohibited from launching or promoting syrupBTC, its allegedly competing product, and from dealing in CORE tokens without prior written consent pending arbitration.