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ConstitutionDAO's cryptocurrency has surged 900% as the collective's token becomes a meme coin
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The token minted by the ConstitutionDAO is turning into a meme coin.
The people token, the coin given to those who donated to the crypto collective, has rallied more than 900% in the past month, according to CoinMarketCap data. Bloomberg was the first to report the move.
In November, 17,000 people donated a combined $46 million to ConstitutionDAO in an effort to buy an original copy of the US Constitution. The people token gave donors a piece of ownership in the DAO, or decentralized autonomous organization.
But when the group lost its bid on November 18 to Citadel CEO Ken Griffin, it gave members two options: redeem your People tokens and lose money with so-called gas transaction fees, or claim the token and keep it in your
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