The Cryptocurrency Backed by VC Giant Andreessen Horowitz
Stability is what the cryptocurrency world needs right now, says Rune Christensen, founder of MakerDAO.
That’s why his company’s Dai token has attracted major backers like venture capital firm Andreessen Horowitz.
“A stable cryptocurrency really is one of those really fundamental building blocks that every other application needs [in order] to function,” says Christensen.
The Dai, which launched in December 2017 and is the first decentralized cryptocurrency on the Ethereum blockchain, gets rid of volatility by pegging itself to the U.S. dollar. That means one Dai is always worth $1. It is also backed by centralized assets.
Unlike other cryptocurrencies, the Dai isn’t for speculative investments. Holders can easily convert it into fiat currency and send it to each other.
For the full interview, [click here](https://cheddar.com/videos/the-no-volatility-cryptocurrency).
The Recording Academy CEO, Harvey Mason Jr., sat down with Cheddar to discuss what to expect on Sunday, February 2nd 2025 at the 67th Annual Grammy Awards.
Parsing through the latest news might make it feel impossible to tell how the U.S. economy is doing. This analyst's take? We're in the best case scenario.
The major indices reached all-time highs this week – but when it comes to that Dow Jones record, veteran CIO Kevin Mahn says, ‘I don’t even look at the Dow.’
The WNBA is gearing up for what is sure to be an incredible season — with sold out crowds and high ratings. It's Caitlin's world, we're just living in it.
Tipping expectations have increased. A 2023 survey revealed that approximately 72% feel they are now asked to tip service workers more often than before.
