Source: TechCrunch
Summary
Y Combinator, a prominent startup accelerator, is now offering its portfolio companies the option to receive seed funding in the form of stablecoins, a type of cryptocurrency pegged to a stable asset. This move is seen as a way to provide startups with more flexibility and efficiency in managing their finances. According to Y Combinator, this option will be available to all startups accepted into its program.
Our Reading
The announcement sounds ambitious.
YC startups can now get seed funding in stablecoins, because what could possibly go wrong with mixing startups and cryptocurrency? This “innovation” is basically just a new way to say “digital checks.” The real breakthrough here is that YC is trying to make itself sound cool again. Because, clearly, the best way to help startups is to introduce more financial complexity.
Author: Evan Null
