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).

More In Business

Big Business This Week: A 'Slow-Motion Murder' at Paramount, Tax Hikes (for the Rich) and is Walmart the New Whole Foods?

Plus, Starbucks reported its first quarter of declining sales and earnings since the pandemic, Biden tries to tackle the national debt and Warren Buffett is set to host the annual meeting of his investment firm Berkshire Hathaway.

What Does Marijuana Reclassification Mean, Anyway?

The U.S. could pot-tentially deem marijuana as a less dangerous drug.

Federal Reserve Announces Its Decision on Interest Rates

Powell announced that the Fed will keep the interest rate at their current level of 5.25-5.5 percent, their highest for nearly 20 years.

Worried About Summer Gas Prices? Buy Energy Stocks

You could turn pain at the pump into a financial bump if you buy the dip on energy stocks, one analyst says.

With High Mortgage Rates, Is It Time to Consider a Tiny Home?

For most, buying a home is a far-reaching goal. With high mortgage rates and low inventory, it may be time to get creative and consider a tiny home.

Florida’s 6-Week Abortion Ban Takes Effect

The rules are affecting not just women who want therapeutic abortions, but also nonviable pregnancies for women who want to have babies.

Tom Brady’s Company, Autograph, Wants You To Engage With Your Favorite Athlete...Including the GOAT

Autograph revolutionizes fandom, allowing fans to engage with their favorite celebrities through digital collectibles, experiences, and rewards.

The Breakthrough Skin Cancer Vaccine That’s Changing the Game

A “cure for cancer” might be too ambitious, but recent results in skin cancer vaccine trials are injecting hope into the battle against it.

Sure, it's Not Exactly Fun, But Here's Why Financial Planning is So Important

Cetera Holdings CEO Mike Durbin sits down with Cheddar to discuss the important of financial planning, investment strategy and the state of today's market.

US GDP Growth (Or Lack Thereof): Why Were the Figures So Low?

The U.S. GDP dropped in 2024. Here's what that means for you.

Load More