Twitter Founder Jack Dorsey Makes Bitcoin Defense Announcement
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The bitcoin ecosystem has been subject to lawsuits that are weighing heavy on the system
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Twitter founder Jack Dorsey proposed creating a legal defense fund for Bitcoin developers
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The fund will be used to defend developers by finding and retaining defense counsel
Twitter founder and former CEO Jack Dorsey has announced plans to set up a “Bitcoin Legal Defense Fund”.
The tech billionaire made this plan along with Chaincode Labs co-founder, Alex Morcos, and Martin White, an academic at the University of Sussex.
The announcement was made in a mail for Bitcoin developers bitcoin-dev on Wednesday from an email account that belonged to Dorsey.
According to the announcement, the fund will be used to provide a legal defense for Bitcoin developers who have been subject to “multi-front litigation.”
The announcement stated that the Bitcoin Legal Defense Fund will serve as a non-profit entity aiming to “minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects.”
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The decision was made after individual defendants who Bitcoin developers were forced to capitulate in the absence of legal backing.
The first project of the Bitcoin Legal Defense Fund will be to take over the defense of Ramona Ang’s “Tulip Trading Lawsuit” against certain developers for alleged misconduct over access to a BTC fortune.
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