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Jack Dorsey Leads the Charge to Launch a Bitcoin Defense Fund: Who is it For?

Former Twitter (NYSE:TWTR) boss and strong supporter of Bitcoin, Jack Dorsey, Alex Morcos of Chaincode Labs, Martin White, an academic at the University of Sussex, have...
Jack Dorsey Leads the Charge to Launch a Bitcoin Defense Fund: Who is it For? Jack Dorsey Leads the Charge to Launch a Bitcoin Defense Fund: Who is it For?

Former Twitter (NYSE:TWTR) boss and strong supporter of Bitcoin, Jack Dorsey, Alex Morcos of Chaincode Labs, Martin White, an academic at the University of Sussex, have announced a “Bitcoin Legal Defense Fund.”

In an email announcement sent to Bitcoin developers on January 12, Dorsey explained that the initiative is for Bitcoin developers who are “especially susceptible to legal pressure.”

He explains that it is a free and voluntary option for developers who wish to take advantage of the initiative. An excerpt from the proposal reads;

“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.”

The Fund will start with Bitcoin developers being charged by Tulip Trading Limited over an alleged “breach of fiduciary duty.” According to Dorsey, the Fund will coordinate the existing defense of the Tulip Trading lawsuit.

The Bitcoin Legal Defense Fund Board

The Fund is a non-profit entity, and Dorsey, Morcos, and White form the Bitcoin Legal Defense Fund Board. The board will help defend developers against legal disputes and provide funding for outside counsel.

In addition, the board will be responsible for determining which lawsuits and defendants it will help defend. Now in its early stages, the Fund will employ the services of volunteer and part-time lawyers.

On the Flipside

  • Regardless of its advancement over the years, Bitcoin continues to face criticism regarding its energy usage.

Why You Should Care

The Fund looks to allow developers with legal disputes to continue their work in the open-source Bitcoin community.

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29-01-2022 06:15:54 (UTC+7)

EUR/USD

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EUR/USD

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USD/JPY

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AUD/USD

0.6990

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4.3297

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Natural Gas Futures

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US Coffee C Futures

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DAX

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Adidas AG

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6.791

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 EUR/USD1.1150↑ Sell
 GBP/USD1.3408↑ Buy
 USD/JPY115.22Neutral
 AUD/USD0.6990Sell
 USD/CAD1.2764Sell
 EUR/JPY128.46Sell
 EUR/CHF1.0381↑ Sell
 Gold1,790.10Buy
 Silver22.485↑ Buy
 Copper4.3297↑ Sell
 Crude Oil WTI87.31Buy
 Brent Oil89.00Buy
 Natural Gas4.667↑ Sell
 US Coffee C235.85↑ Sell
 Euro Stoxx 504,136.91↑ Buy
 S&P 5004,431.85↑ Buy
 DAX15,318.95Buy
 FTSE 1007,466.07Neutral
 Hang Seng23,550.08↑ Buy
 Small Cap 20001,955.70↑ Buy
 IBEX 358,609.80↑ Buy
 BASF68.510↑ Buy
 Bayer52.83↑ Buy
 Allianz227.80↑ Buy
 Adidas236.15↑ Buy
 Lufthansa6.791↑ Buy
 Siemens AG138.34↑ Buy
 Deutsche Bank AG11.912↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,170/ 6,230
(0/ 0) # 1,327
SJC HCM6,180/ 6,250
(0/ 0) # 1,333
SJC Hanoi6,180/ 6,252
(0/ 0) # 1,335
SJC Danang6,180/ 6,252
(0/ 0) # 1,335
SJC Nhatrang6,180/ 6,252
(0/ 0) # 1,335
SJC Cantho6,180/ 6,252
(0/ 0) # 1,335
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RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
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JPY189,35201,87
KRW16,1119,77
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