Sources: stablecoin project Basis, backed by Bain Capital, GV, and a16z, is closing and returning most of the $133M capital raised, due to regulatory issues (Frank Chaparro/The Block)

Frank Chaparro / The Block:
Sources: stablecoin project Basis, backed by Bain Capital, GV, and a16z, is closing and returning most of the $133M capital raised, due to regulatory issues  —  One large Basis investor said “this is an extraordinarily talented team with an extremely ambitious vision tackling a very difficult problem.