Jack Dorsey Supports Launch Of New Fund To Defend Bitcoin Devs Against Legal Action

It’s been just revealed that the former Twitter chief Jack Dorsey is currently helping launch a new fund that will support the defense of Bitcoin devs against litigation.

The Block Crypto revealed that its first port of call will be to come to the aid of the Bitcoin developers who are being sued by Craig Wright’s Tulip Trading Limited over an alleged “breach of fiduciary duty.”

It’s important to note the fact that the fund will provide funding for outside counsel.

In an email addressed to developers, sent early on January 12, Dorsey described the open-source community as “especially susceptible to legal pressure.”

“In response, we propose a coordinated and formalized response to help defend developers,” he wrote.

Another issue worth mentioning is that The Bitcoin Legal Defense Fund, a non-profit entity, will aim to assist developers with legal disputes that might interrupt their work, according to what Dorsey had to say.

He continued and revealed:

“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.”

Jack Dorsey said BTC will replace the US Dollar

At the end of 2021, we reported that he made some pretty exciting affirmations about Bitcoin and Web3 and you can check out what happened below.

When Cardi B asked online if crypto will replace the US dollar, Dorsey hopped in the comments and said this:

As Fortune publication notes, Dorsey is one of Bitcoin’s biggest cheerleaders, saying earlier this year at the Bitcoin 2021 conference in Miami that the crypto “changes everything” for him.

He also said the following:

“I don’t think there’s anything more important in my lifetime to work on, and I don’t think there’s anything more enabling for people around the world.”

Block (formerly Square), where Dorsey is still CEO, has invested heavily in Bitcoin.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.