Get ready for a lot of dead DAOs – TechCrunch

Image Credits: TechCrunch

After a lengthy crypto bull run, the startups and projects in the space are reining in expectations and settling in for a long-haul crypto winter. It’s been a particularly tough time for DAOs, which are seeing their treasuries and native tokens decline, forcing them to cut back on expenses while trying to drum up enthusiasm within their communities. The crypto governance organizations certainly have made a big splash in the past year but can the bulk of them survive a downturn? That was our hot topic of discussion this week.

Hello and welcome back to the Chain Reaction podcast, where we unpack and explain the latest crypto news, drama and trends, breaking it down block by block for the crypto curious.

This week, Lucas and Anita dove into OpenSea layoffs, the threat of Binance taking on Coinbase in the U.S. market and how the Bored Apes creators are trying to build their own metaverse to take on Roblox and Meta. We also chatted about this week’s rising crypto prices and why traders are feeling bullish all of a sudden.

Our guest: Upstream CEO Alexander Taub

DAO has been a very hot acronym among crypto acolytes over the past year, from online investors using them to crowdfund money to buy a copy of the constitution, to major DeFi protocols pushing their governance to these decentralized autonomous organizations. This week, Anita and Lucas chatted with Alexander Taub, the CEO of DAO tooling startup Upstream, pushing him on what DAOs are doing right and wrong and what they’ll look like after this crypto winter.