Chief Executive Officer of Block (Formerly known as Square) and Co-founder of Twitter Jack Dorsey’s recent proposition about Bitcoin-related steps have been inevitable in the tech industry since his departure from Twitter. The former CEO of Twitter intends to create the ” Bitcoin Legal Defense Fund” with Alex Morcos’s Co-founder chain code.
Famous host of the Tales Of The Crypto Podcast Marty Bent Tweeted detailed information with an email Jack Dorsey delivered out to Bitcoin miners and developers stating his strategic plans to create a Bitcoin legal defense fund. His words through email state he intends to “minimize legal headaches” for Bitcoin developers.
According to Cointelegraph, the announcement was sent to Bitcoin developers on a mailing list at 5:43 am Wednesday, Jan 12, through an email belonging to Jack Dorsey.
“Litigation and continued threats are having their intended effect; individual defendants have chosen to capitulate in the absence of legal support. Open-source developers, who are often independent, are especially susceptible to legal pressure.” Dorsey mentioned this via email.
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Block CEO Dorsey also stated via email that the fund’s first activities would be to displace the fund to protect developers against Craig Wright, a.k.a. the Tulip Defense Fund.
Jack Dorsey resigned as Twitter CEO last November; after that, Parag Agarwal took over the reins of Twitter from Jack Dorsey and was appointed as the new Twitter CEO. After their departure from Twitter, Jack became the permanent exponent of Bitcoin; there might be a chance of being a Bitcoin proponent was his long desire. He could step down from the position to develop a decentralized Bitcoin Exchange. The digital currency has started a revolution with a market that provides a blend of miners to focus on the exchanges; even many colossal firms are showing keen interest to Bitcoin to adapt to the developing markets perennially, perhaps the ongoing twirl would cause an anomalous upshot.