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Jack Dorsey Leads the Charge to Launch a Bitcoin Defense Fund: Who is it For?

Former Twitter (NYSE:TWTR) boss and strong supporter of Bitcoin, Jack Dorsey, Alex Morcos of Chaincode Labs, Martin White, an academic at the University of Sussex, have...
Jack Dorsey Leads the Charge to Launch a Bitcoin Defense Fund: Who is it For? Jack Dorsey Leads the Charge to Launch a Bitcoin Defense Fund: Who is it For?

Former Twitter (NYSE:TWTR) boss and strong supporter of Bitcoin, Jack Dorsey, Alex Morcos of Chaincode Labs, Martin White, an academic at the University of Sussex, have announced a “Bitcoin Legal Defense Fund.”

In an email announcement sent to Bitcoin developers on January 12, Dorsey explained that the initiative is for Bitcoin developers who are “especially susceptible to legal pressure.”

He explains that it is a free and voluntary option for developers who wish to take advantage of the initiative. An excerpt from the proposal reads;

“The main purpose of this Fund is to defend developers from lawsuits regarding their activities in the Bitcoin ecosystem, including finding and retaining defense counsel, developing litigation strategy, and paying legal bills.”

The Fund will start with Bitcoin developers being charged by Tulip Trading Limited over an alleged “breach of fiduciary duty.” According to Dorsey, the Fund will coordinate the existing defense of the Tulip Trading lawsuit.

The Bitcoin Legal Defense Fund Board

The Fund is a non-profit entity, and Dorsey, Morcos, and White form the Bitcoin Legal Defense Fund Board. The board will help defend developers against legal disputes and provide funding for outside counsel.

In addition, the board will be responsible for determining which lawsuits and defendants it will help defend. Now in its early stages, the Fund will employ the services of volunteer and part-time lawyers.

On the Flipside

  • Regardless of its advancement over the years, Bitcoin continues to face criticism regarding its energy usage.

Why You Should Care

The Fund looks to allow developers with legal disputes to continue their work in the open-source Bitcoin community.

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18-01-2022 12:06:08 (UTC+7)

EUR/USD

1.1333

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EUR/USD

1.1333

-0.0074 (-0.65%)

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GBP/USD

1.3579

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USD/JPY

114.59

-0.01 (-0.01%)

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AUD/USD

0.7181

-0.0029 (-0.41%)

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USD/CAD

1.2549

+0.0029 (+0.24%)

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EUR/JPY

129.87

-0.85 (-0.65%)

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EUR/CHF

1.0392

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Gold Futures

1,813.00

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Silver Futures

23.488

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Copper Futures

4.3897

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Sell (7)

Crude Oil WTI Futures

84.56

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Buy

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Brent Oil Futures

87.22

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Natural Gas Futures

4.308

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US Coffee C Futures

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Euro Stoxx 50

4,257.82

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S&P 500

4,584.30

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DAX

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24,112.78

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US Small Cap 2000

2,105.40

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IBEX 35

8,781.60

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67.660

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Bayer AG NA

52.06

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Neutral

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Allianz SE VNA O.N.

225.95

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Adidas AG

254.20

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Deutsche Lufthansa AG

7.129

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11.926

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 EUR/USD1.1333↑ Sell
 GBP/USD1.3579↑ Sell
 USD/JPY114.59↑ Sell
 AUD/USD0.7181↑ Sell
 USD/CAD1.2549↑ Buy
 EUR/JPY129.87↑ Sell
 EUR/CHF1.0392↑ Sell
 Gold1,813.00↑ Sell
 Silver23.488↑ Sell
 Copper4.3897↑ Sell
 Crude Oil WTI84.56Buy
 Brent Oil87.22Sell
 Natural Gas4.308↑ Sell
 US Coffee C238.75↑ Sell
 Euro Stoxx 504,257.82↑ Sell
 S&P 5004,584.30↑ Sell
 DAX15,772.56↑ Sell
 FTSE 1007,566.20↑ Sell
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,105.40↑ Sell
 IBEX 358,781.60↑ Sell
 BASF67.660↑ Sell
 Bayer52.06Neutral
 Allianz225.95↑ Sell
 Adidas254.20↑ Sell
 Lufthansa7.129↑ Sell
 Siemens AG142.60↑ Sell
 Deutsche Bank AG11.926↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(0/ 0) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
Cập nhật 18-01-2022 12:06:10
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ↀ Giá vàng thế giới
$1,814.05-5.28-0.29%
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ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$85.15+0.240.28%
Brent$87.22+0.450.51%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.560,0022.870,00
EUR25.241,6226.656,50
GBP30.202,2531.491,85
JPY191,95203,20
KRW16,5120,11
Cập nhật lúc 18:54:36 18/01/2022
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