Maple Finance Faces Legal Battle Over Competing BTC Product

Court stops Maple from launching syrupBTC or using CORE tokens, claiming they broke a deal with Core Foundation.

Maple says syrupBTC is separate and will return 85% of BTC to lenders, keeping their BTC program safe.

Core wants to protect lstBTC and enforce rules, keeping their partnerships and projects secure.

Maple Finance is embroiled in a high-stakes legal dispute with Core Foundation. The Cayman Islands Court issued an injunction against Maple, citing potential breaches of its commercial agreement with Core

The injunction bars Maple from launching its competing syrupBTC product and dealing in CORE tokens without prior consent. This development directly affects Maple’s BTC Yield program, which had secured over $150 million in Bitcoin from lenders.

The dispute stems from a partnership formed in early 2025. Maple and Core Foundation jointly developed lstBTC, a liquid staked Bitcoin product designed to deliver yield while keeping assets securely custodied

According to Core, Maple allegedly misused confidential information and developed syrupBTC, a competitive product, violating the 24-month exclusivity clause. Maple denies these allegations. CEO Sid Powell stated, “Maple is built on transparency and the protection of lender rights. We strongly reject all claims by CORE Foundation.”

Partnership and Alleged Breach

Initially, Core Foundation invested heavily in lstBTC’s development, marketing, and promotion. Maple leveraged this early collaboration to scale its Bitcoin Yield program rapidly, demonstrating strong market demand. However, by mid-2025, Core claims Maple began diverting efforts to syrupBTC while continuing to accept Core’s capital

This alleged breach prompted Core to seek an injunction, with the court finding a serious issue to be tried. The judgment emphasized that damages would not suffice because Maple could gain a significant advantage if allowed to continue.

Maple’s Response and Operational Impact

Maple counters that syrupBTC is an independent creation, developed without using Core’s confidential materials. Powell stressed that the BTC Yield program remains ring-fenced and hedged, protecting lenders from CORE token volatility

Maple also pledged to return 85% of BTC principal to lenders promptly, retaining 15% until legal matters conclude. Powell further reassured stakeholders that other products, including syrupUSDC and syrupUSDT, operate independently and remain unaffected.

Core Foundation emphasizes community protection and aims to enforce the exclusivity and confidentiality clauses. Core’s legal actions intend to preserve the integrity of lstBTC and maintain lender safeguards. The foundation plans to pursue high-quality partnerships and new launches in the coming months to enhance its ecosystem.

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