Tuesday, November 12

Breaking Down the Bankless Backlash

Here’s a crypto story loaded with noise and fury that might really have a delighted ending: Bankless HQ, a media brand name, and BanklessDAO, a semi-related entity, are going over divorce. And it’s the kids’ fault.

It’s not likely the split will be acrimonious; David Hoffman and Ryan Sean Adams, the co-creators of the prominent Bankless brand name, sent a proposition to the decentralized self-governing company (DAO) that shares a name. Now they simply desire to talk.

This is an excerpt from The Node newsletter, a day-to-day roundup of the most critical crypto news on CoinDesk and beyond. You can register for get the complete newsletter here.

“We’re in the parameterizing stage today,” Hoffman stated in a video call. The expert podcaster’s livestream quality was clear, the bitrate of somebody who puts time, attention and capital into the two-to-four news roundups and interviews submitted weekly.

The subject and terms being “specified?” Whether BanklessDAO will have the ability to call itself that moving forward, after a proposed fundraising and education effort, advanced by the DAO, obviously without Hoffman and Adams’ understanding, exploded the whole brand name this vacation weekend.

Particularly, a big area of “Crypto Twitter” (and some sections of “Bitcoin Twitter”) took severe offense that BanklessDAO asked for 1,818,630 ARB (ARB trades around dollar parity,

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