Core Foundation Secures Cayman Court Injunction, Accusing Maple Finance of Violating Partnership Agreement

By: theblockbeats.news|2025/11/20 10:45:55

BlockBeats News, November 20th, the Core Foundation announced that it has obtained a restraining order from the Grand Court of the Cayman Islands. The court determined that Maple Finance was suspected of violating confidentiality obligations and exclusive cooperation terms "with significant issues to be adjudicated" during the development of lstBTC in collaboration with the Core Foundation.

The Core Foundation stated that since the beginning of the partnership in 2025, they have invested heavily in technical development, market promotion, and product subsidies. However, Maple Finance has subsequently been accused of using confidential information to develop a competing product, in violation of their 24-month exclusive cooperation agreement. Regarding Maple Finance's announcement of the need to impair assets in the Bitcoin Yield product, the Core Foundation pointed out that it is still unclear why Maple Finance is unable to return the lent Bitcoin to lenders and emphasized that their actions reflect significant doubts about Maple Finance's business operations.

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