PANews reported on November 20 that the Core Foundation announced that the Grand Court of the Cayman Islands has found that Maple Finance violated confidentiality obligations and exclusive cooperation terms in the development of lstBTC, and that "there are serious issues that need to be examined." The Core Foundation stated that since the partnership began in early 2025, they have invested significant resources in technology development, marketing, and product subsidies. However, Maple Finance has subsequently been accused of using confidential information to develop competing products, violating their 24-month exclusive partnership agreement. Regarding Maple Finance's announcement of an impairment charge on assets in its Bitcoin Yield product, the Core Foundation noted that the reason for Maple Finance's inability to return Bitcoin to lenders remains unclear, and emphasized that its actions reflect significant doubts about Maple Finance's business practices.PANews reported on November 20 that the Core Foundation announced that the Grand Court of the Cayman Islands has found that Maple Finance violated confidentiality obligations and exclusive cooperation terms in the development of lstBTC, and that "there are serious issues that need to be examined." The Core Foundation stated that since the partnership began in early 2025, they have invested significant resources in technology development, marketing, and product subsidies. However, Maple Finance has subsequently been accused of using confidential information to develop competing products, violating their 24-month exclusive partnership agreement. Regarding Maple Finance's announcement of an impairment charge on assets in its Bitcoin Yield product, the Core Foundation noted that the reason for Maple Finance's inability to return Bitcoin to lenders remains unclear, and emphasized that its actions reflect significant doubts about Maple Finance's business practices.
The Cayman Islands court granted the Core Foundation's request to issue an injunction against Maple Finance to stop its alleged breach of contract.
PANews reported on November 20 that the Core Foundation announced that the Grand Court of the Cayman Islands has found that Maple Finance violated confidentiality obligations and exclusive cooperation terms in the development of lstBTC, and that "there are serious issues that need to be examined."
The Core Foundation stated that since the partnership began in early 2025, they have invested significant resources in technology development, marketing, and product subsidies. However, Maple Finance has subsequently been accused of using confidential information to develop competing products, violating their 24-month exclusive partnership agreement. Regarding Maple Finance's announcement of an impairment charge on assets in its Bitcoin Yield product, the Core Foundation noted that the reason for Maple Finance's inability to return Bitcoin to lenders remains unclear, and emphasized that its actions reflect significant doubts about Maple Finance's business practices.
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