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The Grand Cayman Island High Court has issued an injunction against the altcoin project Maple Finance upon the application submitted by the Core Foundation. The court determined there exists a serious issue to be tried regarding a breach of the collaboration agreement between the two parties. The ruling forbids Maple from launching its new product, syrupBTC, and conducting transactions with CORE coin without written consent from the Core Foundation.
Core–Maple Collaboration Faces Turmoil
Earlier this year, Core Foundation and Maple Finance joined forces to develop the product “lstBTC,” aimed at generating returns from Bitcoin $0.006609 assets. During this process, Core provided substantial financial resources and technical infrastructure, with the product being showcased at the Consensus Hong Kong event in February. Following this collaboration, the assets under Maple’s management grew rapidly, surpassing $500 million. However, from the middle of the year, Core Foundation alleged that Maple was misusing confidential collaboration information to develop a competing product called syrupBTC.
In evidence presented to the court, Core argued that a 24-month exclusivity clause was in effect between the two entities. Despite this, Maple continued to benefit from Core’s capital while simultaneously advancing its own project. On September 26, 2025, with the decision numbered [2025] CIGC (FSD) 105, the court ruled that damages would be insufficient and prohibited Maple from using Core’s confidential information and promoting similar products.
Concerns Over Bitcoin Yield Product and Asset Futures Persist
Core Foundation questioned the damage declarations on the billions in assets within Maple’s Bitcoin Yield program. Core maintained that these assets should have been held in bankruptcy-protected accounts through independent licensed custodians, thus making it unclear why losses or return issues were presented. Additionally, within the lstBTC structure, Core had secured the Bitcoin principal with option contracts safeguarding against price fluctuations; however, this protection was suspended following Maple’s violations.
While Core expressed that the legal measure was essential to protect its ecosystem and investors, it declared its intention to continue developing similar products through new partnerships. Maple Finance, on the other hand, announced via its X account that the dispute was limited to the BTC Yield pilot program conducted solely with Core Foundation. It claimed its overall operations remain unaffected and accused Core of acting against lender interests, opting to pursue all legal avenues.
According to CryptoAppsy data, as of the time of writing, SYRUP coin experienced a 4.76% drop, trading at $0.3639 over the past 24 hours, while CORE coin saw a 0.19% increase, trading at $0.1677 within the same period.
