What is a bitcoin Legal Defense Fund?

Bitcoin in court. Image: Shutterstock The founder and CEO of Block, Jack Dorsey, announced plans to create a "Bitcoin Legal Defense Fund," a nonprofit initiative entity tasked with providing a legal defense for Bitcoin developers, which is "currently the subject of multi-front litigation."

Why did Jack Dorsey propose a legal defense fund for bitcoin developers?

Block founder and CEO Jack Dorsey proposed creating a legal defense fund for Bitcoin developers as the community faces "multi-front litigation" and "threats" that have forced some without legal support to "capitulate." UST Stablecoin Veers Wildly From Dollar Peg. Here's the Latest

Will a bitcoin fund help developers face a lawsuit?

The fund’s first task will be to assist developers facing a lawsuit from Tulip Trading Limited, the firm associated with Craig S. Wright. Bitcoin in court. Image: Shutterstock

What is the bitcoin fund & how does it work?

The fund will select cases to help with paying their legal bills, working on strategy and hiring defense lawyers, according to the email. Its first move is to support 16 developers being sued by Craig Wright, an Australian computer scientist who claims to be the creator of bitcoin.