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Y Combinator alumni raise $80 million for DAO to back crypto startups

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Groups of people seeking to invest together have been turning to the crypto-native DAO (decentralized autonomous organization) structure for a collective decision-making framework. While an investment DAO typically can only have up to 100 members in order to stay compliant with SEC rules, Orange DAO has found a way to bring over over 1,000 Y Combinator alumni together to back web3 startups through an associated venture fund.
Orange DAO just raised $80 million in funding, mainly from two strategic investors: layer-one blockchains Algorand and Near, general partner Ben Huh told TechCrunch in an

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