BanklessDAO, meanwhile, legally speaking, is an organization that does not even exist. The DAO was founded in 2021, amid a bull run that saw bitcoin rocket $69,000, and so while it counts just under 30,000 members on Discord, it’s hard to judge how many joined and left. Hoffman described the DAO as a “very flat” entity composed of “sub DAOs,” including units focused on consulting and publishing, an audio and video guild and something called “Fight Club.”