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Stablecoin Project of Basis Confirms that it Is Shutting Down Due to Regulatory Hurdles

Just yesterday, the crypto and investor communities woke up to news that the highly anticipated stablecoin project of Basis was ceasing operations and returning a majority of its funds to investors. Backed by Bain Capital Ventures, GV, Andreessen Horowitz, Lightspeed Ventures, Stanley Druckenmiller, Polychain Capital and more, Basis was meant to utilize its one of a kind algorithm to bring a new…
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