{"id":480904,"date":"2022-01-12T17:00:32","date_gmt":"2022-01-12T17:00:32","guid":{"rendered":"https:\/\/wncen.com\/?p=480904"},"modified":"2024-06-11T14:10:33","modified_gmt":"2024-06-11T14:10:33","slug":"jack-dorsey-launches-bitcoin-defense-fund-to-aid-devs-facing-litigation","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/jack-dorsey-launches-bitcoin-defense-fund-to-aid-devs-facing-litigation\/","title":{"rendered":"Jack Dorsey Launches Bitcoin Defense Fund To Aid Devs Facing Litigation"},"content":{"rendered":"

Jack Dorsey has announced the launch of a bitcoin defense fund that is aimed at bitcoin developers who are facing litigation. The space, although still new, has had its fair share of litigation as various devs have had to battle it out in the courts over their products. This fund will help to fund provide legal defense for these developers who otherwise would have folded due to lack of funds.<\/p>\n

Backing Up Bitcoin Developers<\/h2>\n

In an email<\/a> sent out to the bitcoin developers’ mailing list, Twitter ex-CEO Jack Dorsey announces the establishment of the Bitcoin Defense Fund. The fund was a response to the various litigations bitcoin developers were being subjected to due to their work involving bitcoin and its products. A lot of these are open-source developers, who are unable to afford proper legal defense when faced with these litigations.<\/p>\n

Related Reading |\u00a0Bitcoin Discount? Peter Brandt On Why You Shouldn\u2019t Buy The Dip<\/a><\/strong><\/em><\/p>\n

The email which was posted to Twitter by Zack Voell explains that the primary mission of the fund was to help defend these developers from lawsuits. It will provide services like helping developers find and retain defense counsel, as well as developing litigation strategies and assisting in paying legal fees. The non-profit entity will be accessible to developers if they wish to take advantage of it.<\/p>\n

\"Bitcoin<\/p>\n

BTC recovers to $43K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
As for the projects that get funded, the board of the Fund will be responsible for making the decisions. It\u2019s staffed with a corps of volunteer and part-time lawyers who will work to protect bitcoin devs from lawsuits.<\/p>\n
Funding The First Projects<\/h2>\n
In the email, Dorsey notes that the Fund had already chosen the first project to take on. The Tulip Trading lawsuit had been brought against a number of developers, claiming a breach of fiduciary duty on the part of the devs. The Bitcoin Defense Fund will provide funding for the outside counsel for the developers named in the lawsuit to aid in their legal defense.<\/p>\n
Related Reading |\u00a0ARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction<\/a><\/strong><\/em><\/p>\n
This Fund comes at a critical point where more devs are finding themselves in the middle of lawsuits due to their work in the bitcoin space. These devs are often backed into a corner as they are unable to provide adequate legal defense for themselves due to limited resources. The Bitcoin Defense Fund will change this.<\/p>\n
\u201cThe Bitcoin community is currently the subject of multi-front litigation,\u201d the email read. \u201cLitigation and continued threats are having their intended effect; individual defendants have chosen to capitulate in the absence of legal support.\u201d<\/p>\n
This Bitcoin Defense Fund is another in a long line of activities that have proven Dorsey\u2019s support for bitcoin and its development. In December, he announced<\/a> the Bitcoin Trust Fund (BTrust), to accelerate bitcoin development in Africa and India.<\/p>\n
Featured image from CryptoPotato, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Jack Dorsey has announced the launch of a bitcoin defense fund that is aimed at bitcoin developers who are facing litigation. The space, although still new, has had its fair share of litigation as various devs have had to battle it out in the courts over their products. This fund will help to fund provide legal defense for these developers who otherwise would have folded due to lack of funds. Backing Up Bitcoin Developers In an email sent out to the bitcoin developers’ mailing list, Twitter ex-CEO Jack Dorsey announces the establishment of the Bitcoin Defense Fund. The fund was a response to the various litigations bitcoin developers were being subjected to due to their work involving bitcoin and its products. A lot of these are open-source developers, who are unable to afford proper legal defense when faced with these litigations. Related Reading |\u00a0Bitcoin Discount? Peter Brandt On Why You Shouldn\u2019t Buy The Dip The email which was posted to Twitter by Zack Voell explains that the primary mission of the fund was to help defend these developers from lawsuits. It will provide services like helping developers find and retain defense counsel, as well as developing litigation strategies and assisting in paying legal fees. The non-profit entity will be accessible to developers if they wish to take advantage of it. BTC recovers to $43K | Source: BTCUSD on TradingView.com As for the projects that get funded, the board of the Fund will be responsible for making the decisions. It\u2019s staffed with a corps of volunteer and part-time lawyers who will work to protect bitcoin devs from lawsuits. Funding The First Projects In the email, Dorsey notes that the Fund had already chosen the first project to take on. The Tulip Trading lawsuit had been brought against a number of developers, claiming a breach of fiduciary duty on the part of the devs. The Bitcoin Defense Fund will provide funding for the outside counsel for the developers named in the lawsuit to aid in their legal defense. Related Reading |\u00a0ARK Invest CEO Cathie Wood On What Will Drive Bitcoin Correction This Fund comes at a critical point where more devs are finding themselves in the middle of lawsuits due to their work in the bitcoin space. These devs are often backed into a corner as they are unable to provide adequate legal defense for themselves due to limited resources. The Bitcoin Defense Fund will change this. \u201cThe Bitcoin community is currently the subject of multi-front litigation,\u201d the email read. \u201cLitigation and continued threats are having their intended effect; individual defendants have chosen to capitulate in the absence of legal support.\u201d This Bitcoin Defense Fund is another in a long line of activities that have proven Dorsey\u2019s support for bitcoin and its development. In December, he announced the Bitcoin Trust Fund (BTrust), to accelerate bitcoin development in Africa and India. Featured image from CryptoPotato, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":480909,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85161,518,85162,1119,13179],"class_list":["post-480904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-defense-fund","tag-bitcoin-developers","tag-bitcoin-litigation","tag-btc","tag-jack-dorsey"],"acf":[],"yoast_head":"\nJack Dorsey Launches Bitcoin Defense Fund To Aid Devs Facing Litigation<\/title>\n<meta name=\"description\" content=\"Jack Dorsey has announced the launch of a bitcoin defense fund that is aimed at bitcoin developers who are facing litigation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Jack Dorsey Launches Bitcoin Defense Fund To Aid Devs Facing Litigation","url":"http:\/\/wncen.com\/news\/jack-dorsey-launches-bitcoin-defense-fund-to-aid-devs-facing-litigation\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/jack-dorsey-launches-bitcoin-defense-fund-to-aid-devs-facing-litigation\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Jack-dorsey.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Jack-dorsey.jpeg?fit=1411%2C790"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin defense fund","bitcoin developers","bitcoin litigation","btc","jack dorsey"],"dateCreated":"2022-01-12T17:00:32Z","datePublished":"2022-01-12T17:00:32Z","dateModified":"2024-06-11T14:10:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Jack Dorsey Launches Bitcoin Defense Fund To Aid Devs Facing Litigation\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/jack-dorsey-launches-bitcoin-defense-fund-to-aid-devs-facing-litigation\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/jack-dorsey-launches-bitcoin-defense-fund-to-aid-devs-facing-litigation\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Jack-dorsey.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/Jack-dorsey.jpeg?fit=1411%2C790\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin defense fund\",\"bitcoin developers\",\"bitcoin litigation\",\"btc\",\"jack dorsey\"],\"dateCreated\":\"2022-01-12T17:00:32Z\",\"datePublished\":\"2022-01-12T17:00:32Z\",\"dateModified\":\"2024-06-11T14:10:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Jack-dorsey.jpeg?fit=1411%2C790","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=480904"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/480909"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=480904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=480904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=480904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}