Core Foundation Wins Injunction Against Maple Finance on Alleged Confidentiality Breach
Core Foundation secured an injunction against Maple Finance over alleged breaches of confidentiality regarding their lstBTC partnership.Summary
The Grand Court of the Cayman Islands granted an injunction preventing Maple Finance from completing its syrupBTC liquid staking token or dealing in CORE tokens, pending arbitration. Core Foundation, the creator of the yield-bearing lstBTC token, alleged that Maple breached exclusivity obligations and misappropriated intellectual property after they partnered to launch the token. Core claimed Maple used confidential information to develop their own competing product while accumulating $150 million in client assets from the lstBTC partnership. Furthermore, Core accused Maple of creating risk for lenders by declaring impairments to millions of dollars worth of BTC deposits. Maple Finance denies all wrongdoing, stating Core's actions are against lender interests, and vows to aggressively pursue remedies to hold Core Foundation accountable.
(Source：CoinDesk)