River Financial Sues Blockstream Services Canada Over $6.7 Million Contract

River Financial has filed a lawsuit seeking $6.7 million from Blockstream Services Canada ULC over a canceled contract, according to court filings. The case has prompted clarification from Blockstream Corp., which said the defendant is a separate company that has not been under its ownership or management since mid-2024.

Dispute Involves Canceled Contract

River Financial filed the complaint on Sept. 11, alleging that Blockstream Services Canada ULC owes the company $6.7 million in connection with a canceled agreement. The available court filing details do not establish the final merits of River’s claims, and the dispute remains ongoing.

Initial headlines shared on X referred broadly to “Blockstream” as the defendant. That description led to confusion because several companies use the Blockstream name.

Blockstream Corp. Separates Itself From Defendant

In a statement issued Saturday, Blockstream Corp. said that Blockstream Services Canada ULC and a related U.S. services company have not been owned or managed by Blockstream Corp. since mid-2024.

The statement indicates that the lawsuit was filed against Blockstream Services Canada ULC rather than Blockstream Corp. The companies’ similar names have contributed to the confusion surrounding the case.

Case Remains Pending

River Financial’s lawsuit will determine whether Blockstream Services Canada ULC is liable for the amount sought. No ruling on the claims has been reported.