Malikie Innovations, which acquired over 32,000 patents from BlackBerry in 2023, has filed lawsuits against major Bitcoin mining firms Marathon Digital and Core Scientific. At the heart of the dispute lies elliptic curve cryptography (ECC), a core component of Bitcoin’s blockchain protocol.

Cryptography Under Scrutiny

According to Malikie, the ECC techniques used by Bitcoin are protected under patents they now hold. Their lawsuit claims that these mining companies have been infringing on their intellectual property by supporting Bitcoin operations with ECC-based methods.

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What’s more, Malikie seeks damages for up to six years of retroactive royalties. If awarded, the damages could be significant—possibly severe enough to force companies like Core Scientific into financial distress.

Could The Entire Network Be at Risk?

Experts suggest that a victory for Malikie might set a dangerous precedent. Other miners in the US could become targets, and the case could raise concerns over the legal stability of Bitcoin’s cryptographic foundation.

However, industry analysts like Niko Demchuk from AMLBot believe Malikie’s claims may not hold up. He suggests the patents in question may be expired or cover techniques predating Bitcoin’s implementation of ECC.

This is not the first intellectual property challenge in the crypto world. In the past, figures like Craig Wright have made failed attempts to claim ownership of Bitcoin’s underlying technologies. But this case serves as a reminder: even decentralized networks aren’t immune to centralized legal disputes.

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The extended exemptions cover various categories such as specific textile products, electronic components, and some agricultural goods. This move provides United States businesses with additional time to reorganize supply chains and find alternative sources. It has especially eased short-term cost pressures for companies operating in the clean energy sector. 

United States Trade Talks and Next Steps 

This news comes amid ongoing trade talks between the United States and China. The White House says President Donald Trump and Chinese President Xi Jinping are scheduled to have a phone conversation this week. 

A US trade court ruled on Wednesday that Trump exceeded his authority in imposing tariffs on imports from China and other countries. The court stated that these tariffs could not be enforced under the emergency powers law. However, within 24 hours, a federal appeals court suspended the ruling to review the government’s appeal. Thus, the tariffs were temporarily reinstated. The appeals court requested responses by June 5 from plaintiffs and by June 9 from the government. 

Experts say such exemptions provide a “breathing room” for trade negotiations but agree that more comprehensive agreements are needed for long-term solutions. 

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In this article, we will first define intellectual property, examine how blockchain technology brings innovations to the IP world, and finally, take a detailed look at Story Protocol.

What is Story Protocol?

Story Protocol is a programmable IP network that facilitates the transition of intellectual property to the blockchain. Its goal is to tokenize IP rights, transforming them into digital assets while making the entire process transparent, decentralized, and fair.

What is Intellectual Property (IP)?

Intellectual Property (IP) is a legal concept that protects creators’ ownership and rights over their works. It includes various legal elements such as copyright, trademarks, and patents, ensuring that creators maintain control over their creations.

What is Copyright?

Copyright is a mechanism that defines the rights of creators over their original works. It applies to works such as books, music, artworks, and software, granting the creator rights over reproduction, distribution, adaptation, and public display.

However, traditional copyright systems suffer from issues such as uncertainty, lack of transparency, and complex contractual structures, making it difficult to track and enforce IP rights. Blockchain technology offers solutions to these challenges by introducing transparency, traceability, and immutability.

Story Network and Programmable IP Licenses (PIL)

To enable the programmability of intellectual property, Story Protocol has developed a Layer-1 blockchain network called Story Network.

This network is designed to be Ethereum Virtual Machine (EVM) compatible, allowing developers to migrate their existing applications to Story Protocol. Additionally, Programmable IP Licenses (PIL), a smart contract-based licensing system, aims to prevent copyright infringements.

Blockchain technology has the potential to revolutionize the protection and commercialization of intellectual property. Story Protocol is leading this transformation, making IP rights more secure, fair, and autonomous through tokenization, smart contracts, and a transparent blockchain framework.

Story Protocol Funding Journey

Story Protocol integrates intellectual property (IP) management with blockchain technology, ensuring content creators’ rights are protected and making copyright processes more transparent. To achieve this vision, the project has secured support from major investors, raising a total of $134.3 million across multiple funding rounds.

Story Protocol’s investment journey began with the Seed Funding Round on May 17, 2023, where it raised $29.3 million. Key investors in this round included Andreessen Horowitz (a16z), Hashed Fund, Mirana Ventures, SamsungNext, dao5, and Two Small Fish Ventures.

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The next major round was the Series A Funding Round, held on September 6, 2023, where the project secured $25 million. Led by Andreessen Horowitz (a16z), this round also included investments from Balaji Srinivasan, Hashed Fund, Mirana Ventures, SamsungNext, and Alliance DAO.

The largest investment round took place on August 21, 2024, with the Series B Funding Round, in which Story Protocol raised $80 million. This round was again led by Andreessen Horowitz (a16z), with additional participation from Polychain Capital, Cozomo de Medici, Adrian Cheng, and Scott Trowbridge.

Story Protocol Tokenomics

Story Protocol’s token economy (tokenomics) follows a carefully designed structure. The total supply is set at 1 billion IP Tokens, distributed as follows:

• 38.4% allocated to the ecosystem and community
• 21.6% for early investors
• 20% for core contributors
• 10% for initial incentives
• 10% for other purposes

Blockchain technology has the power to transform the intellectual property landscape, and Story Protocol is at the forefront of this revolution. By leveraging tokenization, smart contracts, and a decentralized structure, it aims to create a fair, transparent, and secure future for IP rights.

What is the Price of Story (IP)?

Story is currently trading at approximately $1.83 at the time of writing. It has a maximum supply of 1 billion, with a circulating supply of around 250 million Story tokens. Its fully diluted market capitalization is approximately $460 million, indicating a relatively large valuation in the market.

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