Home Cryptocurrency AssangeDAO Acquired $56M

AssangeDAO Acquired $56M

Decentralized Autonomous Organizations or DAO or AssangeDAO, have so far led to more thinking than building. When it comes down to it, a DAO is just a way to get people together and work together.

AssangeDAO Acquired $56M iBase Trading.
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Decentralized Autonomous Organizations or DAO or AssangeDAO, have so far led to more thinking than building. When it comes down to it, a DAO is just a way to get people together and work together.

These are internet forums with a shared bank account, blockchain-based quasi-corporations, or crypto project governance structures.

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Some believe DAOs will eventually become a new type of public infrastructure, managed by neither enterprises nor governments.

The most famous DAO to date, ConstitutionDAO, failed in its goal to buy a copy of the U.S. Constitution, even though it raised more money than the document itself was worth. SpiceDAO also hasn’t been able to buy a Dune book and make money from it.

Julian Assange could be extradited to the United States after a legal process last December. As a result, a group called AssangeDAO was formed. He spent a lot of time in Ecuador’s embassy in London, which was the major purpose.

The DAO is taking a long way to get Assange out of prison. Last month, it raised 17,422 Ether (about $56 million at the time) to bid on a non-fungible token (NFT) project. The Wau Holland Foundation would then use the money to help with Assange’s legal case and release.

The core contributor of AssangeDAO, Rachel-Rose O’Leary, said at the time this is a big moment in DAO history.

A well-known conceptual artist collaborated with Assange and his family on the NFT project Censored. Clock is a one-of-one NFT that shows how many days Assange has spent in prison. The DAO bid on that item.

In this case, AssangeDAO was clearly successful. It brought in a lot of money that could be used to help Assange’s case. Famous people like Ethereum creator Vitalik Buterin and Gnosis founder Martin Köppelmann, as well as many modest donations, backed it.

AssangeDAO Leaderless Organization

AssangeDAO hit a brick. Before the auction, I started communicating with major NFT players on Telegram. In addition, they had access to important personnel of the DAO. They were ecstatic. The organization arose spontaneously to release Assange with no leaders. Amir Taaki, a longstanding bitcoin advocate, was there, as were crypto attorneys McKenna and Silke Noa.

O’Leary said some people disagreed on how to spend DAO funds. It raised more than planned. One group sought to maxbid, which meant buying Pak’s NFT. Others wanted to save money for whatever it took to release Assange.

O’Leary, a supporter of maxbid, said that keyholders felt the weight first. Someone at work tried to buy an NFT for Silk Road’s founder. It was her goal for AssangeDAO to live.

Pak and Julian Assange’s brother, Gabriel Shipton, both agreed that that was the best thing to do. It was everyone’s goal to please the DAO, so they did what they could. The lack of trust in the community makes it hard to deal with these kinds of situations. It split the town in two. The founders of the DAO never met.

People in the AssangeDAO group were concerned quickly. To return ETH to those who gave it to them, they said they should give it back. A picture or a point in the chain where they can go back and start again. The DAO founders left, which made things more difficult.

Indeed, the DAO is still doing activities. It has about $600,000 worth of crypto. The community wants to have a hackathon, clean up the website, and give a prize to people who fight for freedom. It might even be able to help Ukraine pay for its army with crypto.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Jane De Leon is a news writer covering all things related to DeFi and NFTs. In the past, she has worked for a well-known Business Newspaper. She originally began investing in Bitcoin after hearing about it from her brother and hasn’t looked back since.