Former Twitter CEO Jack Dorsey Announces Bitcoin Legal Defense Fund to Assist Developers in Legal Trouble

Dorsey will be working alongside Chaincode Labs co-founder Alex Moros and University of Sussex academic Martin White.

Advertisement
By Shomik Sen Bhattacharjee | Updated: 13 January 2022 16:02 IST
Highlights
  • The fund aims to assist Bitcoin developers in legal disputes
  • The fund will cover legal bills, appoint defence attorneys
  • The non-profit fund represents a formal and coordinated approach

The fund will help provide a legal defense for Bitcoin developers

Photo Credit: Reuters

Block CEO and former Twitter CEO Jack Dorsey has proposed the creation of a legal defence fund that would help Bitcoin developers deal with mounting litigation. Called the Bitcoin Legal Defense Fund, it's services would be free for developers to take advantage of if they choose to do so. Initially, volunteers and part-time lawyers would assist with cases, and the fund's board would be responsible for determining which cases and defendants to help. Dorsey outlined the basics of the proposal in an email to the Bitcoin-dev mailing list.

In the email, Dorsey said litigation and continued threats to the community are having their intended effect as some individual defendants have chosen to surrender in the absence of legal support.

Advertisement

The Bitcoin Legal Defense Fund would essentially serve as a non-profit entity tasked with helping developers minimise legal headaches. Specifically, the fund would assist with finding and retaining defence counsel, developing legal strategies, and paying legal fees. In fact, the fund will also include a team of volunteers and part-time lawyers, readily accessible to developers for legal counsel.

Apart from Dorsey, the email was signed by Chaincode Labs co-founder Alex Morcos and academic Martin White, who both join the former Twitter boss on the fund's board.

Advertisement

The Bitcoin Legal Defense Fund's first move will be to support 16 developers being sued by Craig Wright, an Australian computer scientist who claims to be the creator of Bitcoin. Wright won a court battle in December 2021 to keep a cache of 1.1 million Bitcoins, worth about $54 billion (roughly Rs. 3,99,238 crore) at the time.

In the new case, known as the "Tulip Trading" lawsuit, Wright claims the access keys for a Bitcoin wallet were stolen from him last year in the Mt. Gox hack, and he is demanding the developers be forced to give him back control of the wallet — another case with Billions of dollars at stake.

Advertisement

Dorsey, who has become more crypto-focussed since stepping down as Twitter CEO to concentrate on his digital finance company Block, which rebranded from Square. Recently, two NBA stars agreed to have their salary paid in Bitcoin via its Cash App, the latest in Dorsey's efforts to grow Bitcoin adoption.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
 

Also seeCryptocurrency Prices across Indian exchanges

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Advertisement

Related Stories

Popular Mobile Brands
  1. Vivo T5x 5G Gets New Fusion Red Colour Option in India
  2. OnePlus N6x Will Go On Sale in India on This Date: See Expected Specs
  3. Pixel 11 Series Tipped to Debut With Higher Prices; Battery Capacities Leaked
  4. You Can Now Browse Threads, Use Muse Spark on Meta Ray-Ban Display Glasses
  1. Google Pixel 11, Pixel 11 Pro, Pixel 11 Pro XL Price, Battery Capacities Leaked Online
  2. Claude Artifacts Found in Google Search, Raising Fresh Privacy Concerns
  3. Banks in Hong Kong Brace for Quantum Risks During Tokenisation Expansion
  4. WhatsApp Adds Status Caption Editing Feature for Android Beta Testers: Report
  5. Samsung Galaxy A08 4G, Galaxy M08, and Galaxy F08 Surface in New Listings
  6. Resident Evil Requiem Sales Cross 8 Million Copies as Pragmata Surpasses 2.5 Million Units, Capcom Confirms
  7. Meta Ray-Ban Display Glasses Updated With Ability to Browse Threads, Use Meta AI’s Muse Spark and More
  8. Microsoft Introduces Project Perception as a New Agentic Security System to Protect Against AI-Powered Cyberattacks
  9. Huawei Nova 16 SE Leak Reveals Design, Price, and Key Specifications Ahead of Launch
  10. Honor Band 11 Series Opens for Pre-Orders in China With New Pro GPS Model
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.