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BitDAO raises US$230M with Peter Thiel, VCs to drive DeFi adoption
Summary: BitDAO — a new decentralized autonomous organization that aims to “promote and propel the mass adoption of open finance and [the] decentralized tokenized economy” — announced today the completion of a US$230 million private sale led by Peter Thiel, Founders Fund, Pantera Capital and Dragonfly Capital, according to a statement. With the growth of decentralized ...
BitDAO — a new decentralized autonomous organization that aims to “promote and propel the mass adoption of open finance and [the] decentralized tokenized economy” — announced today the completion of a US$230 million private sale led by Peter Thiel, Founders Fund, Pantera Capital and Dragonfly Capital, according to a statement. With the growth of decentralized finance to more than US$60 billion in total value locked, DAOs have emerged as the primary governance mechanism overseeing DeFi’s growth.
UK billionaire Alan Howard, Jump Capital, Spartan Group, Fenbushi, UniValues Associates and Kain Warwick of Synthetix are among more than 20 participants in BitDAO. As an initial proponent of BitDAO, Singapore-based cryptocurrency exchange Bybit has pledged recurring contributions of 2.5 basis points of its futures contracts trading volume to the BitDAO treasury, which is expected to amount to more than US$1 billion annually, the statement said.
By Chen Zou
Tags: BitDAO,Peter Thiel
Link: BitDAO raises US$230M with Peter Thiel, VCs to drive DeFi adoption [Copy]
