Jack Dorsey spearheads new fund to defend Bitcoin developers against legal action

The first port of call will be to come to the aid of Bitcoin developers sued by Craig Wright's Tulip Trading Limited for alleged “breach of fiduciary duty".” The fund will provide financing for an external consultant.

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

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

The Bitcoin Legal Defense Fund, a non-profit organization, will aim to help developers with legal disputes that may interrupt their work, he added.

He will do this by assisting in the appointment of defense consultants, the development of defense strategies, and the payment of legal bills. The proposed service will be free for developers of Bitcoin-based projects - Dorsey told about the Lightning Network.

The fund will be staffed by volunteers and part-time lawyers, starting with a board responsible for allocating its resources. This board, based on the email, is made up of Dorsey, Alex Morcos, co-founder of Chaincode Labs, and academic Martin White.

”At this time, the fund does not want to raise additional money for its operations, but will do so october the direction of the board of directors if necessary for further legal action or to pay for staff," Dorsey said.

Source:theblockcrypto.com