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Former Twitter CEO and outspoken bitcoin enthusiast Jack Dorsey has launched yet another project to encourage BTC advancements.
Former Twitter CEO and outspoken bitcoin bull, Jack Dorsey has launched yet another project to encourage BTC advancements.
Former Twitter CEO and outspoken bitcoin bull Jack Dorsey has launched yet another project to encourage BTC advancements.
Square CEO Jack Dorsey has launched a new fund to provide legal defense for bitcoin developers, continuing his work on new bitcoin-related projects. Its first project, dubbed "Bitcoin Legal Defense Fund," will be to assist in the ongoing Tulip Trading litigation. Dorsey defined the new fund as a "nonprofit entity that strives to eliminate legal issues that deter software developers from actively developing Bitcoin and related projects like the Lightning Network, Bitcoin privacy protocols, and the like" in an email to BTC developers.
The fund's goal is to protect creators against legal action.
The announcement comes as the bitcoin community experiences an increase in "multi-front litigation and persistent threats," which force individual defendants to capitulate in the absence of legal assistance. The primary purpose of the fund is to "defend developers from litigation arising from their participation in the Bitcoin ecosystem." "Finding and retaining defense counsel, creating litigation strategy, and paying legal fees" are all part of this. It's worth mentioning that if developers opt to seek help, the Bitcoin Legal Defense Fund will be 100% free and voluntary.
Dorsey, professor Martin White, and Chaincode Labs co-founder Alex Morcos will serve on the board.
The litigation and defendants that the fund works with will be chosen by a board that includes Jack Dorsey, professor Martin White, and Chaincode Labs co-founder Alex Morcos. It has already decided on its first case, in which it would "take over coordination of the existing defense of the Tulip Trading litigation against certain developers for violation of fiduciary duty and give financing for outside counsel." In the crypto world, the Tulip case is well-known because the self-proclaimed Satoshi Nakamoto – Craig Wright – decided to sue a number of bitcoin developers over an alleged attack that cost him over $4 billion in bitcoin.
Former Twitter CEO and outspoken bitcoin bull, Jack Dorsey has launched yet another project to encourage BTC advancements.
Former Twitter CEO and outspoken bitcoin bull Jack Dorsey has launched yet another project to encourage BTC advancements.
Square CEO Jack Dorsey has launched a new fund to provide legal defense for bitcoin developers, continuing his work on new bitcoin-related projects. Its first project, dubbed "Bitcoin Legal Defense Fund," will be to assist in the ongoing Tulip Trading litigation. Dorsey defined the new fund as a "nonprofit entity that strives to eliminate legal issues that deter software developers from actively developing Bitcoin and related projects like the Lightning Network, Bitcoin privacy protocols, and the like" in an email to BTC developers.
The fund's goal is to protect creators against legal action.
The announcement comes as the bitcoin community experiences an increase in "multi-front litigation and persistent threats," which force individual defendants to capitulate in the absence of legal assistance. The primary purpose of the fund is to "defend developers from litigation arising from their participation in the Bitcoin ecosystem." "Finding and retaining defense counsel, creating litigation strategy, and paying legal fees" are all part of this. It's worth mentioning that if developers opt to seek help, the Bitcoin Legal Defense Fund will be 100% free and voluntary.
Dorsey, professor Martin White, and Chaincode Labs co-founder Alex Morcos will serve on the board.
The litigation and defendants that the fund works with will be chosen by a board that includes Jack Dorsey, professor Martin White, and Chaincode Labs co-founder Alex Morcos. It has already decided on its first case, in which it would "take over coordination of the existing defense of the Tulip Trading litigation against certain developers for violation of fiduciary duty and give financing for outside counsel." In the crypto world, the Tulip case is well-known because the self-proclaimed Satoshi Nakamoto – Craig Wright – decided to sue a number of bitcoin developers over an alleged attack that cost him over $4 billion in bitcoin.
