Jack Dorsey announces Bitcoin Legal Defense Fund

Former
Twitter
CEO
and
Block
founder
Jack
Dorsey
has
announced
plans
to
create
a
“Bitcoin
Legal
Defense
Fund”
with
Chaincode
Labs
co-founder
Alex
Morcos
and
Martin
White,
who
appears
to
be
an

academic

at
the
University
of
Sussex.

The

announcement

was
sent
on
a
mailing
list
for
Bitcoin
developers,
bitcoin-dev,
at
13:45
UTC
on
Wednesday
from
an
email
address
appearing
to
belong
to
Dorsey.

Cointelegraph
reached
out
to
the
board
members
to
confirm
the
email’s
legitimacy
but
did
not
immediately
receive
a
response.

The
announcement
stated
the
fund
will
help
provide
a
legal
defense
for
Bitcoin
developers,
who
are
“currently
the
subject
of
multi-front
litigation.”

“Litigation
and
continued
threats
are
having
their
intended
effect;
individual
defendants
have
chosen
to
capitulate
in
the
absence
of
legal
support,”
the
email
stated,
referencing
open-source
developers
who
are
often
independent
and,
therefore,
susceptible
to
legal
pressure.

“We
propose
a
coordinated
and
formalized
response
to
help
defend
developers.”

The
announcement
went
on
to
describe
the
Bitcoin
Legal
Defense
Fund
as
a
“nonprofit
entity
that
aims
to
minimize
legal
headaches
that
discourage
software
developers
from
actively
developing
Bitcoin
and
related
projects.”

“The
main
purpose
of
this
Fund
is
to
defend
developers
from
lawsuits
regarding
their
activities
in
the
Bitcoin
ecosystem,
including
finding
and
retaining
defense
counsel,
developing
litigation
strategy,
and
paying
legal
bills,”
it
stated.

Initially,
the
fund
will
include
volunteers
and
part-time
lawyers
for
developers
to
“take
advantage
of
if
they
so
wish,”
although,
the
email
also
states
that
“the
board
of
the
Fund
will
be
responsible
for
determining
which
lawsuits
and
defendants
it
will
help
defend.”

“At
this
time,
the
Fund
is
not
seeking
to
raise
additional
money
for
its
operations
but
will
do
so
at
the
direction
of
the
board
if
needed
for
further
legal
action
or
to
pay
for
staff.”

According
to
the
email,
the
fund’s
first
project
will
be
to
take
over
the existing
defense
of
Ramona
Ang’s

“Tulip
Trading
Lawsuit”
against
developers
for
alleged
misconduct
over
access
to
a
Bitcoin
(BTC)
fortune.



Related:




Nano
Foundation
Sponsors
Legal
Fund
To
Provide
BitGrail
Hack
Victims
With
Representation


Dorsey
, who
stepped
down
as

Twitter’s
CEO

at
the
end
of
November
2021,
is
a
long-time

proponent
of
Bitcoin
.
It
remains
unclear
whether
Dorsey
left
the
social
media
firm
to
focus
on
Block’s
(formerly
Square)
plans
to
develop
a
decentralized
Bitcoin
exchange.

On
Nov.
19,
the
decentralized
exchange
project
called
tbDEX released
a
white
paper

detailing
its
plans
to
create
a
message
protocol
designed
to
facilitate
trust
relationships
without
relying
on
a
federation
to
control
access.

read original article here