Jack Dorsey Sent An Unexpected Email To Bitcoin Developers, Announced His Bitcoin Legal Defense Fund Launch
Jack Dorsey, Founder and Former Twitter CEO, announced plans to create a new fund that will help Bitcoin developers defend themselves against legal action.
On January 12, at 00:13:45 (UTC), an email address that seemed to belong to Jack Dorsey was sent an announcement to a Bitcoin developers mailing list. According to the statement, the fund will offer legal defense for Bitcoin developers who are “currently the subject of multi-front litigation.”
The Bitcoin Legal Defense Fund is described 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 said. “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.”
They will first support Bitcoin developers who Craig Wright’s Tulip Trading Limited is suing for allegedly breaching fiduciary duties. The fund will cover the cost of legal counsel.
Jack Dorsey will create 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.
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Bitcoin
Jack Dorsey Sent An Unexpected Email To Bitcoin Developers, Announced His Bitcoin Legal Defense Fund Launch
Jack Dorsey, Founder and Former Twitter CEO, announced plans to create a new fund that will help Bitcoin developers defend themselves against legal action.
On January 12, at 00:13:45 (UTC), an email address that seemed to belong to Jack Dorsey was sent an announcement to a Bitcoin developers mailing list. According to the statement, the fund will offer legal defense for Bitcoin developers who are “currently the subject of multi-front litigation.”
The Bitcoin Legal Defense Fund is described 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 said. “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.”
They will first support Bitcoin developers who Craig Wright’s Tulip Trading Limited is suing for allegedly breaching fiduciary duties. The fund will cover the cost of legal counsel.
Jack Dorsey will create 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.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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