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January 22, 2022
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Jack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers – Bitcoin News

A latest letter revealed to the Bitcoin builders mailing record written by Square founder Jack Dorsey signifies {that a} authorized protection fund has been created for open supply builders so as to shield them “from lawsuits regarding their activities in the Bitcoin ecosystem.” Dorsey’s letter can be signed by Alex Morcos of Chaincode Labs and Martin White, the co-founder of Hudson River Trading.

Jack Dorsey’s Open Letter to the Bitcoin Developers Mailing List Reveals Bitcoin Legal Defense Fund

According to an open letter from Jack Dorsey, Alex Morcos, and Martin White, “the Bitcoin community is currently the subject of multi-front litigation.” While the letter doesn’t particularly element any of the authorized instances builders are coping with, it mentions that “individual defendants have chosen to capitulate in the absence of legal support.”

Jack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers
Open letter to Bitcoin builders from Jack Dorsey, Alex Morcos, and Martin White.

However, the letter does trace on the Tulip Trading lawsuit, which includes Craig Wright, the Australian who claims he’s Satoshi Nakamoto and the inventor of Bitcoin. “The Bitcoin Legal Defense Fund is a nonprofit entity that aims to minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects such as the Lightning Network, Bitcoin privacy protocols, and the like,” the letter from Dorsey, White, and Morcos states. The open letter continues:

The fund’s first actions might be to take over coordination of the prevailing protection of the Tulip Trading lawsuit towards sure builders alleging breach of fiduciary responsibility and supply the supply of funding for out of doors counsel. At this time, the fund will not be in search of to increase further cash for its operations however will achieve this on the route of the board if wanted for additional authorized motion or to pay for workers.

Bitcoin Community Appreciates Legal Defense Fund Effort

The letter explains that individuals with questions or issues can electronic mail the fund’s crew and the e-mail area “bitcoindefensefund.org” is talked about. The web site appears to be below development in the mean time, as a message from the area host Namebright notes the location is “coming soon.” Of course, the Bitcoin Legal Defense Fund turned a trending topic on social media after the open letter was revealed.

Open supply developer Bryan Bishop tweeted that he was “very grateful to see Jack’s support on the Bitcoin Developer Legal Defense Fund.” Bitcoiner Marty Bent wrote: “Shoutout to Jack, Alex Morcos, and Martin White for stepping up to protect Bitcoin developers from getting bogged down by lawsuits so they can focus on what they do best. Really cool to see come through the bitcoin-dev mailing list this evening,” Bent added.

Tags on this story
Alex Morcos, Bitcoin Legal Defense Fund, Bryan Bishop, Chaincode Labs, Craig Wright, Defense Fund, Developers, Hudson River Trading, Jack Dorsey, Lawsuits, authorized fund, authorized funding, Martin White, Marty Bent, Open Letter, open supply builders, Satoshi Nakamoto, Tulip Trust

What do you consider the Bitcoin Developer Legal Defense Fund data Jack Dorsey revealed on the builders’ mailing record on Wednesday? Let us know what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com News concerning the disruptive protocols rising right this moment.

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