- Jump Trading is involved in a legal dispute over the web domain wormhole.com.
- This month, Jump sued Dick Maryman, 79, a fan of Carl Sagan, who has owned the domain since 1994.
- Jump wants wormhole.com for its crypto business and claims that Merryman has agreed to a deal to sell it for $ 50,000.
Who is Dick Maryman?
In a grand plan of things, he’s like a trivial planet of a lost ham drum star in a galaxy hiding in a forgotten corner of the universe where there are far more galaxies than humans. You may notice.
At least it’s his idol Carl Sagan may have said..
One of the most proud names in high-speed algorithmic trading, and the growing power of cryptocurrencies, the Jump Trading Group also launched last summer when the crypto business launched to buy domain names from 79-year-old retirees. I was thinking in the same way.
But now, the Wall Street powers have become more important as they are involved in a legal battle with Maryman. A true thorn on the side of the jump, an obstacle to the trading giant’s quest to secure ownership of the domain wormhole.com.
According to a complaint filed in the U.S. District Court in Nevada, the Chicago-based Jump in April was launched by Nevada-based Septuagenarian Parramp with a domain of $ 50,000 to the company. After rejecting the offer to sell at, he was accused of violating the contract.
Jump isn’t seeking damages, but is forcing Jump to claim a binding contract and asking the judge to let Merryman relinquish control of the domain.
According to court filings, the company purchased the cryptocurrency platform Wormhole Network (which currently owns the domain wormholenetwork.com) “to exactly match its name” last August, at the URL of wormhole.com. I am very anxious for.
The platform, which is a nexus connecting various blockchains such as Ethereum and Solana, has grown significantly. By size and notoriety since then. It was the location of a $ 325 million crypto robber who grabbed the headline in February.
Therefore, Jump is anxious to break open a similarly valuable domain from Maryman’s clutch before another bidder requests and receives a preliminary injunction to freeze the asset.
In June last year, Jump’s software engineer offered a $ 2,500 offer to buy wormhole.com through a third-party broker, Domain Agents, according to court filings. The offer was rejected.
Maryman responded on July 1, according to the message history of the court filings. “The price of wormhole.com is $ 50,000. – Dick-“
To Merryman’s surprise, Jump agreed.
As the days went by, Maryman did not respond to instructions to complete the transaction and set up an escrow account. Marcus pressured Domain Agents on status on July 12, and Maryman revealed that he had changed his mind.
“No, I’m sorry, I changed my mind. This was too easy. I’m leaving a lot of money on the table or it’s a scam. In any case, there’s no sale. If you want a reasonable suggestion , It is recommended to do so.-Dick- “
When Jump’s lawyer was involved a little over a week later, Maryman replied, “Yeah, do your best in the proceedings. The price is $ 100,000.-Dick-“.
A few days later, Jump’s lawyer sent Maryman a threatening letter accusing him of violating the contract, saying that Jump “will not negotiate the price after acceptance” and “does not leave money on the table” to Maryman. Said. scam’. “
Then, through another intermediary, Jump raised bids just to meet Maryman’s $ 200,000 demand.
Maryman wasn’t serious about selling, he said.
“I didn’t know who I was dealing with,” he told the insider.
“I really didn’t want to sell it. I had the same email address for 28 years — it’s like a family,” he said.
Impulse buying inspired by Carl Sagan, 28 years ago
Jump Trading’s interest in wormhole.com began last summer, but for Merryman it all started in 1994, when the internet was still in its infancy and Jump Trading didn’t even sparkle in the eyes of its founders. rice field.
At that time, almost all internet domains were available. One night, after watching Carl Sagan’s television series “Cosmos” with his wife Linda, “Wormhole” jumped into Maryman’s brain.
“So it was like’buy wormhole.com’, so we did it,” Maryman told insiders. He didn’t buy it as an investment, he just bought it as a personal domain. The registration record confirms that it was purchased in 1994.
“I could have done anything else,” he added.
Merryman, who worked as a computer engineer before retiring in 2001, has since attached an email address to his website.
Over the next thirty years, Maryman received hundreds of inquiries and solicitations to buy URLs, he said.
Carl Sagan’s real estate, which died in 1996 in the early 2000s, was contacted about acquiring wormhole.com for the project.
“I told them,’Hey, if you really want it, I’ll give you a domain.’ Because I was a big fan of Carl Sagan,” Maryman recalled.
Since Sagan’s estate eventually decided not to move forward, Maryman maintained wormhole.com and taught Sagan’s representative the name of the epic opening theme song for “Cosmos” by Greek composer Vangelis. I got it.
“What is that music he uses in the background, that beautiful music?” I asked. And they told me, and I felt better — and I bought it, “Merryman said.
This is the closest thing he can do to abandon wormhole.com, and under Merryman’s control, a spare web page without any other hyperlinks will be generated. The definition of a wormhole (“theoretical passage of space-time that can create a shortcut for a long journey across space”), the graphic rendering of a wormhole, the website “service to the public”, and the date on the screen. And a rotating string of strings that resolves to the clock displaying the time.
Maryman spent most of her life in Maryland, but moved to Nevada about 15 years ago to escape the crowds and stormy weather.
They settled in an unincorporated Pahrump, located 62 miles west of Las Vegas on the California-Nevada border and inhabited by approximately 45,000 people. There are also a few small casinos, several wineries, a petting zoo and the Parramp Valley Speedway. , 1/4 mile dirt track.
Far from the world of competitive quantitative investment, where Wall Street and an army of decorated mathematicians and engineers fight to develop state-of-the-art trading algorithms with billions of dollars.
$ 325 Million Cryptographic Robbery, and a Fictitious Classic Law School
The domain dispute boiled quietly in the background for months, but the jump didn’t really go away.
In August 2021, a few weeks after Jump first contacted Merryman, the company signed an agreement to acquire Wormhole Network’s creator, blockchain development startup Certus One.
Earlier this year, hackers exploited wormhole flaws and The biggest crypto robbery in history, Stealed $ 325 million worth of digital token ether. Jump Crypto executives likened it to “tech check counterfeiting.” Interview with BloombergWormhole, PayPal, Venmo, and
However, a different blockchain instead of a payment app.
Jump Trading has decided to stabilize the integrity of the wormhole and its thriving investment, submit a bill and complete the user.
This episode caused turmoil not only in the cryptocurrency world, but throughout the financial media.
The resources available to companies that have the funds to make reserve exchanges and quickly replenish $ 325 million are enormous. And companies that are willing to do so to save early crypto projects are investing huge amounts in the project.
These statements may be obvious, but it is possible that the entire episode took place in a galaxy separate from Maryman. Even after he received the subpoena in mid-April, the events and context leading up to the proceedings were lost to him.
Maryman was skeptical of Jump’s allegations, although he did not submit a response to the complaint. He didn’t remember signing up for Domain Agents before Domain Agents contacted him. He sees the test as a home sale — just because he lists the price doesn’t mean he can’t decide to bring it off the market or raise the price later.
A Jump spokeswoman refused to comment on the proceedings.
According to Selendy Gay Elsberg’s partner Jordan Goldstein, the case reads like a classic legal examination question, but is not involved in the case.
“In many respects, this case can be read like a law school hypothesis. It can be contracted and brought to federal court,” said a veteran litigator and commerce expert. Goldstein told insiders.
According to Goldstein, courts have historically applied the same legal principles that apply to digital assets such as web domains to tangible physical store assets such as homes.
Merryman’s view wasn’t reflected in the court’s motion, but Goldstein said, “The statement that the price is $ 50,000 is reasonable as a counter-proposal to sign a deal because Jump was willing to accept it. I can understand it. “
For Maryman, losing wormhole.com is like losing what was a digital home for the last 30 years.
However, he resigned because he might have to pass the contract and let go of wormhole.com. He is in discussions with Jump’s lawyer for a settlement and hopes to at least maintain access to Linda’s long-standing email address with him for some time.
“Imagine the daunting task of changing your email address 28 years later,” Maryman said.