OpenAI · CLARITY Act · Coinbase · Stripe · The Block
Early Airbnb, DoorDash backer Y Combinator confirms Clarity Act could bring crypto to ‘every’ portfolio firm
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Y Combinator, the accelerator and early backer behind companies like Airbnb and DoorDash, said that someday all of its portfolio companies will use crypto.
Key facts
- Y Combinator's post was principally focused on convincing Congress to pass the crypto market structure bill known as the Clarity Act
- The Senate Banking Committee advanced its market structure proposal last month
- We think all YC companies will use crypto technology, like stablecoins, before long," the firm said in a post
- The Act defines which digital assets are securities vs. commodities, creates a registration path with the CFTC, and ensures customer assets become customer property in bankruptcy," said Y Combinator
Summary
"We think all YC companies will use crypto technology, like stablecoins, before long," the firm said in a post. The firm has also backed companies like Coinbase, OpenAI, Stripe, Reddit, OpenAI and Kalshi. Y Combinator's post was principally focused on convincing Congress to pass the crypto market structure bill known as the Clarity Act. For a new era in digital assets to begin, Y Combinator argues that crypto needs to integrate with traditional financial institutions like banks and brokers.