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Twitter CEO Jack Dorsey Launches New Legal Defense Fund To Protect Bitcoin Developers From Lawsuits

DATE POSTED:January 13, 2022

The former head of Twitter is spearheading a new effort to advocate on behalf of Bitcoin (BTC) developers in legal matters.

Jack Dorsey announced the creation of the nonprofit Bitcoin Legal Defense Fund (BLDF) in an email sent to members of the developer community.

“The Bitcoin community is currently the subject of multi-front litigation.

Litigation and continued threats are having their intended effect; individual defendants have chosen to capitulate in the absence of legal support.

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

Dorsey says the defense fund will rely on volunteer and part-time lawyers to assist those in need with obtaining legal representation, developing defense strategies and covering their legal bills.

The co-founder of payments giant Square, which recently announced its intentions to rebrand as Block, says the BLDF will aid some of the defendants in the Tulip Trading lawsuit brought by Australian computer scientist Craig Wright.

Wright alleges that he lost billions of dollars worth of Bitcoin when the Mt. Gox cryptocurrency exchange was hacked for 800,000 BTC back in 2014.

Chaincode Labs co-founder Alex Morcos and University of Sussex computer science professor Martin White will also serve on the defense fund board along with Dorsey.

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