Block CEO Jack Dorsey forms The Bitcoin Defense Fund to defend open-source bitcoin developers from litigation and continued threats, he writes in an email on Wednesday. The newly introduced fund "is a nonprofit entity that aims to minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects such as the Lightening Network, Bitcoin privacy told, and the like," Dorsey highlights. The fund will start with a corps of volunteer and part-time lawyers; the fund's board will be responsible for determining which lawsuits to tackle. Meanwhile, shares of Block (NYSE:SQ), formerly Square, drift lower by 1% during power hour, trading at the low-end of its 52-week range. Bitcoin (BTC-USD +2.0%) eases a bit after a nearly 3-month long cyclical decline. Previously, (Nov. 10, 2021) Twitter, of which Dorsey is the former CEO, formed a team dedicated to crypto.
