Business · Companies · 7 hrs ago
São Paulo court orders Brasil Bitcoin operations returned to original company
A São Paulo appeals court ordered managers to return Brasil Bitcoin’s operations to the original company after they moved them to a new firm called Brasil 8.
The order requires the website domain, payment details and customer deposits held by Brasil 8 to be returned to Brasil Bitcoin.
It also says the original company must file the central bank licence application, replacing an application made by Brasil 8.
The case was brought by founder Erick Carlos Castilho Crus, who owns 40% of the original company and says the move excluded him; managers Jorge de Almeida Alves and Marco Castellari deny diverting company assets.
The court said there was strong evidence that the managers used their roles to weaken the original company and shift its customers to a parallel firm.
The dispute could affect Brasil Bitcoin’s bid for regulated status, while the exchange has about 700,000 customers and says its operations continue normally.
The court’s order sets out steps to restore the original company’s operations and licence application, while the company says it is working to resolve the dispute quickly.
A São Paulo appeals court ordered the operations of crypto exchange Brasil Bitcoin returned to its original company.
The order reverses a February transfer of operations to Brasil 8, a new company using the same brand.
It also requires the original company’s website domain and banking arrangements to be restored, customer deposits received by Brasil 8 since October 16 to be returned, and a new central-bank licence application to be filed in the original company’s name.
The ruling followed a request by Erick Carlos Castilho Crus, a 40% shareholder in the original company, who says the transfer excluded him from the business.
The other administrators deny diverting assets and say Brasil 8 was a necessary contingency measure.
- Who
- The São Paulo Court of Justice ordered the changes. The dispute involves Brasil Bitcoin shareholders Erick Carlos Castilho Crus, Jorge de Almeida Alves and Marco Castellari.
- What
- The court ordered Brasil Bitcoin’s operations returned to the original company and directed it to submit a new central-bank licence application.
- When
- The transfer took place in February. The court order’s date is not stated; the article was published on October 26, 2026.
- Where
- São Paulo, Brazil.
- Why
- Crus asked the court to intervene, alleging that the new company diverted operations and excluded him. Alves and Castellari deny wrongdoing.
Erick Carlos Castilho Crus
Jorge de Almeida Alves and Marco Castellari
Purpose of Brasil 8
Erick Carlos Castilho Crus
Crus says it was created to divert the original company’s operations and exclude him.
Jorge de Almeida Alves and Marco Castellari
Alves and Castellari say it was a necessary contingency measure because of obstacles they attribute to the minority shareholder.
Transfer of operations
Erick Carlos Castilho Crus
Crus alleges the transfer was made without his agreement.
Jorge de Almeida Alves and Marco Castellari
Alves and Castellari deny any diversion.
Brasil Bitcoin’s operations were transferred to Brasil 8, according to the article.
Brasil 8 received customer deposits that the court ordered returned.
Exame published its report on the court order and the dispute.
- Crus’s stake in original company
- 40%
- Brasil 8 declared capital
- R$17 million
- Original Brasil Bitcoin declared capital
- R$500,000
- Brasil Bitcoin customers
- About 700,000
- Deposits covered by order
- Customer deposits received in Brasil 8 accounts since October 16
What people are saying
there is strong evidence that the managing partners are using their management powers to hollow out the company they manage and divert its customers to a parallel company
a necessary contingency measure in view of the obstacles they attribute to the minority shareholder
The operations of the company continue normally.