Core Foundation Takes Legal Action Against Maple Finance Over Alleged Breach of Agreement

1. Court injunction halts Maple Finance’s launch of competing syrupBTC product.
2. Core Foundation secures legal victory, blocking Maple’s alleged breach.
3. Dispute centers around Maple’s misuse of Core’s confidential information.

Core Foundation has secured a significant legal victory against Maple Finance, as the Grand Court of the Cayman Islands issued an injunction against the finance entity. The ruling stems from accusations that Maple Finance violated commercial agreements related to the development of lstBTC, a liquid staked Bitcoin token developed in partnership with Core Foundation. This legal battle began following claims that Maple used Core’s confidential information and resources to develop a competing product, syrupBTC, breaching an exclusivity clause in the partnership agreement.

The Court’s decision is seen as a critical moment in the ongoing dispute. Maple Finance is prohibited from launching or promoting syrupBTC, a token considered directly competitive with lstBTC. Moreover, the injunction restricts Maple from trading or dealing in CORE tokens without obtaining written consent from Core Foundation. This ruling comes after a series of alleged actions by Maple that Core Foundation claims were not only a violation of trust but also damaging to their interests.

Also Read: WhiteBIT Group Secures Strategic Pact to Drive Saudi Digital Infrastructure Upgrade

Background of the Dispute

Core Foundation and Maple Finance began their partnership in early 2025 with the aim of developing lstBTC, a product designed to allow Bitcoin holders to earn yield while maintaining secure custodianship of their assets. Core Foundation invested heavily in the technical development, marketing, and subsidization of the product. Initially, the partnership appeared promising, with Maple’s assets growing significantly after the launch of the Bitcoin Yield offering in April 2025.

However, by mid-2025, Core Foundation alleges that Maple began to misuse confidential information and leverage its resources to create a competing product, syrupBTC. This move, according to Core, violated the terms of their agreement, particularly the 24-month exclusivity clause. Core Foundation took immediate action to protect its interests, leading to the lawsuit and subsequent injunction.

Concerns Over Lender Impact

Another aspect of the legal dispute involves concerns over the $150 million in Bitcoin that Maple raised through the Bitcoin Yield offering. Core Foundation had worked to ensure these funds were protected and segregated to avoid any risk to Bitcoin lenders. However, Maple has suggested that it may need to impair the value of these assets, raising further questions about the management of the funds. Core Foundation has stated that they are unclear why Maple is unable to return the Bitcoin or impair the lenders’ assets.

Core Foundation has stated that they will continue to pursue legal action to protect their community and their interests, with the injunction serving as a validation of their claims. While the legal process unfolds, Core Foundation is moving forward with plans to launch new products and partnerships, aiming to bring further value to the Core ecosystem.

Also Read: Bitcoin Holds Steady While Ethereum, XRP, BNB Drop – Top Altcoins Skyrocket!

The post Core Foundation Takes Legal Action Against Maple Finance Over Alleged Breach of Agreement appeared first on 36Crypto.