Twitter founder and CEO of Block (formerly Square), Jack Dorsey, could attack individuals threatening Bitcoin developers, including Craig “Faketoshi” Wright.
Dorsey, as well asAlex Morcos of Chaincode Labs / the co-founder of Hudson River Trading and another named individual Martin white, wrote an open letter to the developers, noting that the “community” is currently facing litigation on multiple fronts.
The trio noted that “the continued threats are having the intended effect” because “the individual defendants have chosen to surrender in the absence of legal backing.”
Although the letter makes no direct reference to Wright, the man who claims to be Satoshi Nakamoto, the author of the Bitcoin white paper, it does mention the company’s activities. Tulip Trading by Wright. The latter has launched a lawsuit against a group of free software developers BTC, Bitcoin Cash (BCH) and Bitcoin SV (BSV). The action takes the form of a civil claim filed with a UK court.
Dorsey and his co-authors said they created the Bitcoin Legal Defense Fund, a “non-profit entity for the purpose of minimizing legal difficulties that discourage developers from actively engaging in the development of Bitcoin and its related projects such as the Lightning Network and Privacy Protocols.”
They added that the fund would “defend developers against lawsuits regarding their activities in the Bitcoin ecosystem,” and provide assistance in “finding lawyers, developing litigation strategy and paying legal bills.”
The initiative, noted Dorsey and company, “would begin with a corps of volunteer, part-time lawyers”: the trio said the board of directors of the fund would be “responsible for determining prosecutions and selecting defendants. “
They noted:
“Free software developers, who are often independent, are particularly sensitive to legal pressures. In response, we offer a coordinated and formalized response to defend developers.”
The legal team will face their first test against Wright in London, as Dorsey and her co-authors explained:
“The initial activities of the fund will be to take charge of the coordination of the existing defense of Tulip Trading’s legal action against certain developers alleging a breach of fiduciary duty.”
The trio said the fund “is not looking to raise additional funds for its operations.” It could, however, do so in the future “if necessary for further legal action or to pay staff.” Regardless, on Twitter some have expressed an interest in backing the fund with their own crypto holdings.
In its complaint, Tulip Trading claims the developers were guilty of a “breach of fiduciary duty” over BTC funds allegedly stolen from Wright in February 2020.
A law firm employed by Tulip Trading recently obtained the right to pursue a civil lawsuit against the developers.
Wright has already had some success with his legal efforts in the UK, where he sued individuals for hosting the Bitcoin Whitepaper on their websites, often winning on technical legal issues. Wright claimed that those people, including Bitcoin.org’s Cobra, had violated its copyright.
These are not the first legal skirmishes between Dorsey and Wright. Last year the Cryptocurrency Open Patent Alliance (COPA) of the Twitter founder said she is taking legal action against Wright in the UK seeking legal proof that Wright does not own any copyright in the Bitcoin White Paper.
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