The crypto investors who raised $47 million to buy a copy of the Constitution lost their bid — here's where the money goes now [CNBC]
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Source: CNBC
Constitution at a Sotheby's auction — and lost. The group, known as ConstitutionDAO, wrote in its 'frequently asked questions' that the funds would be redeemable, plus a transaction fee. For those who don't want to redeem funds, the DAO will decide how to purpose the remaining funds. A consortium of crypto investors pulled together $47 million worth of ether in a week to try to buy a rare, first-edition copy of the U.S. Constitution at a Sotheby's auction — and lost. What happens to all that cash is up to the people. The group, known as ConstitutionDAO , wrote in its 'frequently asked questions' that the funds would be redeemable, minus a transaction fee. ConstitutionDAO contributor Alice Ma confirmed to CNBC that they would "for sure...provide everyone an option for a refund." Ma went on to say that "there are many people who have already said they want to leave their funds in the wallet, and we are deciding between several options internally for that scenario!" On a Twit
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