Crypto Group ConstitutionDAO to Shut After Loss to Ken Griffin

The decentralized autonomous organization ConstitutionDAO is planning to refund the money it raised and shut down after losing to billionaire Ken Griffin in an auction for a copy of the U.S. Constitution.

The group had been considering its options, but continuing on without the “unifying mission” of trying to buy the copy of the Constitution -- which would involve setting up more official governance, and trying to go in a new direction -- isn’t feasible, according to a statement posted on Twitter.

“We have determined that building and maintaining an ongoing project is not something that we as a core ...