The Cayman court supports the Core Foundation's request to issue an injunction against Maple Finance to stop the alleged default behavior

Core Foundation announced that the Grand Court of the Cayman Islands found that Maple Finance has "serious issues to be examined" regarding the alleged violation of confidentiality obligations and exclusive cooperation terms during the joint development of lstBTC.

Core Foundation stated that since the beginning of their collaboration in early 2025, they have invested substantial resources in technology development, marketing, and product subsidies. However, Maple Finance has since been accused of using related confidential information to develop competing products, violating the 24-month exclusive cooperation agreement between the two parties. Regarding Maple Finance's announcement of the need to impair assets in the Bitcoin Yield product, Core Foundation pointed out that it remains unclear why Maple Finance is unable to return the lenders' bitcoins and emphasized that its actions reflect significant doubts about Maple Finance's business operations.