Core Foundation Secures Restraining Order
The Core Foundation has successfully secured a restraining order from the Grand Court of the Cayman Islands, which raises serious allegations against Maple Finance regarding a breach of partnership terms. The court ruling highlights concerns that Maple Finance may have violated its obligations of confidentiality and exclusive cooperation during its joint efforts with the Core Foundation on lstBTC development.
Allegations of Misappropriation
Since entering into their partnership in 2025, the Core Foundation has invested substantial resources in technological advancement, marketing strategies, and product incentives. However, accusations have surfaced that Maple Finance misappropriated confidential information to create a rival product, thus infringing upon their two-year exclusivity agreement.
Concerns Over Maple Finance’s Practices
In the wake of Maple Finance’s declaration about needing to write down assets linked to its Bitcoin Yield product, the Core Foundation has expressed confusion over Maple’s inability to repay Bitcoin to its lenders. They raised concerns, suggesting Maple Finance’s recent actions might indicate deep-seated issues within its business practices.
