Early Investing

Crypto Insider: ConstitutionDAO Demonstrates the Power of the Crowd

Crypto Insider: ConstitutionDAO Demonstrates the Power of the Crowd
By Early Investing
Date November 24, 2021

It’s almost Thanksgiving. So in the spirit of giving, we have a treat for Early Investing subscribers.

We’re thankful for your support of Early Investing. So while we typically only offer our Crypto Insider videos to First Stage Investor subscribers, we’re sharing today’s video with the Early Investing community. (If you’d like to get more of these videos, check out First Stage Investor.)

Buckle up. This one’s a doozy.

Last week, a community of crypto investors crowdfunded more than $40 million in just 72 hours. The group’s goal was to buy a copy of the U.S. Constitution in an auction. ConstitutionDAO — the decentralized autonomous organization that pooled investor money to bid on the historical document — unfortunately lost the bid to hedge fund CEO Kenneth Griffin. 

Despite the loss, the crowdfunding effort was a remarkable feat. ConstitutionDAO generated tons of publicity for the auction, demonstrated the incredible power of crowdsourcing and showed just how impactful DAOs can be. 

In this episode of Crypto Insider, Vin Narayanan and Andy Gordon discuss the movement’s seemingly anti-1% sentiment, Griffin’s anti-crypto views, Ethereum’s watershed moment and more. 


Thanks for watching!

Top Posts on Early Investing