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From the very beginning of the cryptocurrency movement, the societal potential of Bitcoin (BTC) has been one of the fundamental selling points. The decentralized design of crypto-based systems introduces the possibility of bringing individuals together to work toward shared goals, as well as enabling them to pool resources while remaining
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Interestingly, both longs and shorts took a hit. Of the approximately $9 million in total liquidations, $4.99 million occurred on ‘long’ positions—or the trades betting on upward price movements on people, while the remaining $4.1 million worth occurred on ‘short’ positions, meaning those betting on declining prices of people. Source
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Last week a ramshackle group of crypto investors tried (and failed) to buy the U.S. Constitution. This week on “Opinionated,” Ben, Anna and Danny talk about why. Recorded one day prior to the auction, this week’s episode explores the tough questions decentralized autonomous organizations (DAO) face in the wake of
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ConstitutionDAO is therefore shutting down, the post said. It marked an end to the self-described “decentralized autonomous organization’s” Quixotic experiment in fundraising. Refunds of the group’s $50 million war chest will continue in perpetuity; nearly 50% of funds have already been reclaimed. Source
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As the dust settles on one of the most ambitious crypto experiments in recent memory, a host of questions remain unanswered – starting with the fate of over $49 million in donations.On Thursday night, auction house Sotheby’s played host to an unusual bidder: ConstitutionDAO, an ad-hoc group of over 17,000
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This episode is sponsored by NYDIG.Download this episodeLast night the crypto community waited with bated breath to see who had won the first printing of the U.S. Constitution. Despite raising over $40 million from 17,000 people, the ConstitutionDAO was ultimately outbid. In this episode, NLW discusses how the DAO came
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So-called DAOs have banded together before to score auction-block wins. But their trophies usually take the form of crypto, like non-fungible tokens (NFTs), whose ownership can be governed by smart contracts. A Beeple collection commanded a stunning $69 million at a Christie’s auction in March, supercharging the mainstreaming of NFTs
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The online group, ConstitutionDAO, has failed in its bid to purchase the last privately owned, 1st edition print copy of the U.S. Constitution at public auction at Sotheby’s on Thursday. "The 'Official Edition' of The United States Constitution" was instead won by an unknown bidder for $41M (or $43.2
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However, the real-world identities of multiple members of the DAO’s brain trust – roughly three-dozen individuals – are known, and now an actual LLC will be placing the bid on behalf of the DAO to comply with Sotheby’s know-your-customer (KYC) requirements. Additionally, fractionalization could lead to an unusually easy-to-pursue securities
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