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Crypto Foundations Face Obsolescence as US Regulatory Climate Shifts
Crypto Foundations Face Obsolescence as US Regulatory Climate Shifts
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The era of offshore crypto foundations may be ending. Miles Jennings, a16z''s head of policy, argues these structures—once vital for decentralization—now hinder innovation. Setting up foreign foundations costs projects $500,000+ and months of legal work, creating barriers for startups.
Foundations have devolved into controlling entities with misaligned incentives, Jennings contends. Many lawyers now profit as professional board members rather than building functional frameworks. The solution? Companies—or alternative structures like Decentralized Unincorporated Nonprofit Associations—could better serve crypto''s evolving needs.
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