Former Twitter CEO and founder jack has announced plans to create a Bitcoin Legal Defense Fund with morcosa and Martin White. Their first project? The infamous “Tulip Trading Lawsuit.”
“Litigation and continued threats are having their intended effect; individual defendants have chosen to capitulate in the absence of legal support,” the email stated, referencing open-source developers who are often independent and therefore susceptible to legal pressure.The announcement went on to describe the Bitcoin Legal Defense Fund as a “nonprofit entity that aims to minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects.
“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,” it stated. Initially, the fund will include volunteers and part-time lawyers for developers to “take advantage of if they so wish,” although, the email also states that “the board of the Fund will be responsible for determining which lawsuits and defendants it will help defend.”
“At this time, the Fund is not seeking to raise additional money for its operations but will do so at the direction of the board if needed for further legal action or to pay for staff.”“Tulip Trading Lawsuit” against developers including Ira Kleiman for alleged misconduct over access to a BTC fortune.
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