A recent letter from Square founder Jack Dorsey to the Bitcoin developers mailing list indicates that a legal defense fund has been created for open source developers to protect them “from lawsuits over their activities in the Bitcoin ecosystem. “. Dorsey’s letter was also signed by Alex Morcos of Chaincode Labs and Martin White, co-founder of Hudson River Trading.
Jack Dorsey’s Open Letter to Bitcoin Developers Mailing List Reveals Bitcoin Legal Defense Fund
according to a open envelope from Jack Dorsey, Alex Morcos and Martin White, “The Bitcoin community is currently the subject of multi-party litigation.” While the letter doesn’t specify any legal cases the developers are working on, it mentions that “individual defendants have been choose to surrender”.
However, the letter does hint at a tulip trade lawsuit involving Craig Wright, an Australian who claims to be Satoshi Nakamoto and the inventor of Bitcoin. “The Bitcoin Legal Defense Fund is a not-for-profit entity created to minimize the legal issues that prevent software developers from actively working on Bitcoin and related projects (such as the Lightning Network, Bitcoin Privacy Protocol, etc.),” from Dorsey, White and Moros State. The open letter continues:
The fund’s first activity will be to take over the existing defense of Tulip Trading’s lawsuit against certain developers alleging breach of fiduciary duty, and to provide funding for outside counsel. Currently, the fund is not seeking to raise additional funding for its operations, but will do so at the direction of the board if further legal action or employee salaries are required.
Bitcoin Community Appreciates Legal Defense Fund’s Efforts
The letter explains that interested parties with questions or concerns can email the fund team and mentions the email domain “bitcoindefensefund.org.” The site appears to be currently under construction, as news from domain host Namebright states that the site is “coming soon.”Of course, the Bitcoin Legal Defense Fund became trending topics on social media After the open letter was published.
Open Source Developer Bryan Bishop tweet He is “very grateful for Jack’s support of the Bitcoin Developer Legal Defense Fund.”Bitcoiner Marty Bent wrote: “Salutes to Jack, Alex Morcos and Martin White for stepping up to protect Bitcoin developers from lawsuits so they can focus on what they do best. Seeing the Bitcoin dev mailing list tonight really Cool,” Bent added.
What do you think of the Bitcoin Developer Legal Defense Fund information Jack Dorsey posted on the developer mailing list on Wednesday? Let us know what you think about this topic in the comments section below.
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