Citadel CEO Ken Griffin Outbids Crypto DAO for a Copy of the U.S. Constitution
Posted on 11/25/2021
A DAO is organized by a smart contract, a type of immutable digital contract that contains the rules of the organization. DAO stands for a decentralized autonomous organization.
Citadel is one of the largest hedge funds in the world. The 53-year-old billionaire Ken Griffin runs Citadel and he is the mystery buyer of the first-edition copy of the U.S. Constitution. Griffin paid US$ 43.2 million for a copy of the U.S. Constitution, outbidding a large group of crypto enthusiasts called the ConstitutionDAO. After losing the bid for a copy of the U.S. Constitution, ConstitutionDAO is essentially dissolving and plans to return all funds raised to contributors, minus transaction fees.
“I intend to ensure that this copy of our Constitution will be available for all Americans and visitors to view and appreciate in our museums and other public spaces,” Ken Griffin said in a statement.
