Core Foundation Secures Cayman Islands Court Injunction Against Maple Finance Over Alleged Breach of Partnership Agreements

Allegations against Maple include unauthorized use of Core Foundation's confidential information, multiple violations of commercial agreements, and breach of non-compete obligations.

GEORGE TOWN, Cayman Islands, Nov. 19, 2025 /PRNewswire/ -- The Grand Court of the Cayman Islands has granted an injunction against Maple Finance entities in favor of Core Foundation, finding that there is a serious issue to be tried regarding Maple's alleged breaches of confidentiality and exclusivity obligations in its partnership with Core Foundation to develop lstBTC, a liquid staked Bitcointoken. The injunction prohibits Maple from launching its allegedly competitive product, syrupBTC (or any variants), and from dealing in CORE tokens pending the outcome of arbitration proceedings. You can read the injunction text in full here.

Core Foundation alleges that Maple Finance:

1. Misappropriated Core Foundation's IP and confidential information to springboard their rival product
2. Violated the exclusivity provision of a commercial agreement between the two parties
3. May cause irreparable harm to Core Foundation outside the scope of monetary awards or damages

Maple widely marketed this offering as having "no counterparty risk" which was one reason that it amassed over $150m in client Bitcoin in under 3 months, but their claims were only accurate if Maple safeguarded the Bitcoin and continued to honor its ongoing commercial obligations to Core Foundation or other third parties. Consequently, Maple have said that they need to declare an impairment to the value of millions of dollars against Bitcoin lenders in their Bitcoin Yield offering.

It is unclear why Maple maintains that they are unable to return the Bitcoin to their lenders at this time, or if they have the right to impair them. This is another example of concerning behavior and business practices by Maple, which led to Core Foundation taking action in the best interest of its community.

Core Foundation, unrestricted by the one-sided exclusivity that bound Maple, remains committed to innovating Bitcoin products and continues to advance the Core ecosystem. Core Foundation will protect its contractual rights and the interests of millions of global Core community members worldwide, enforcing the commercial agreements between the two parties and its other rights to the fullest extent of the law.

About Core Foundation

The Core Foundation advances development and innovation throughout the Core blockchain ecosystem through strategic grants, investments, and partnerships. The Core blockchain is the leading Bitcoin scaling solution, transforming idle Bitcoin into a productive, yield-generating asset that powers BitcoinDeFi at scale. Core's Self-Custodial Bitcoin Staking allows holders to timelock Bitcoin directly on the Bitcoin blockchain to earn rewards—without taking on new risk. This trustless yield mechanism helps to secure the high-performance, EVM-compatible Core blockchain, where users can access an expanding universe of Bitcoin-focused decentralized applications.

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SOURCE Core Foundation