ConstitutionDAO Raises $27M on Eve of Sotheby’s Auction. $PEOPLE Could Be the Reason

However, the real-world identities of multiple members of the DAO’s brain trust – roughly three-dozen individuals – are known, and now an actual LLC will be placing the bid on behalf of the DAO to comply with Sotheby’s know-your-customer (KYC) requirements. Additionally, fractionalization could lead to an unusually easy-to-pursue securities enforcement action from the Securities and Exchange Commission (SEC), per early discussions in the DAO’s Discord.