Bankless Media and DAO Consider Split Amid Funding Backlash
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Bankless HQ media brand and BanklessDAO are discussing separating due to backlash over a DAO proposal to fund an Arbitrum education initiative.
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The backlash triggered criticism that BanklessDAO was improperly using funds, though the vote is still pending.
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Bankless co-founders accept blame for not clearly delineating the separate entities and are proposing governance changes.
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The issue highlights challenges with decentralization and conflicts of interest with media brands and associated DAOs.
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Despite criticism, Bankless has an enviable media operation, while BanklessDAO leveraged its brand and is a force to be reckoned with.